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KUALA LUMPUR: QL Resources Bhd’s net profit in the third quarter ended Dec 31, 2020 (3Q21) increased slightly to RM76.33 million from RM76.12 million previously in 3Q20.
Its revenue also improved to RM1.11 billion from RM1.1 billion previously, it said in a filing with Bursa Malaysia today.
It said the marine product manufacturing sales increased by 10 per cent against the corresponding quarter mainly due to higher sales volumes and better price achieved for fishmeal, surimi based products and aquaculture business.
However, palm oil activities sales decreased by 24 per cent, while integrated livestock farming sales also decreased by one per cent due to the adverse impact of COVID-19 in East Malaysia and Indonesia resulting in overall weaker broiler demand in both markets.
On prospects, QL Resources said the management expects a challenging quarter ahead after the re-imposition of the Movement Control Order.
“We also expect the consolidation of Boilermech Holdings Bhd’s result in Q4 to contribute positively to the performance of the group after it becomes a subsidiary following the completion of the mandatory conditional take-over offer,“ it said. -Bernama
