Kawan Food Bhd Reports Unaudited Consolidated Earnings Results for the First Quarter Ended Mar. 31, 2012; Provides Earnings Guidance for Fiscal 2012
May 29, 2012
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Kawan Food Bhd reported unaudited consolidated earnings results for the first quarter ended Mar. 31, 2012. For the quarter, the company reported profit before tax of MYR 2,700,100 and profit attributable to owners of the company of MYR 2,103,362 or 1.75 sen per basic share on revenue of MYR 23,593,743 against profit before tax of MYR 3,976,870 and profit attributable to owners of the company of MYR 3,074,048 or 2.56 sen per basic share on revenue of MYR 25,870,177 for the same period of last year. Net cash from operating activities was MYR 6,760,763 against MYR 933,905 for the same period of last year. Purchase of property, plant and equipment was MYR 1,171,746 against MYR 800,015 for the same period of last year. The group reported revenue decreased 8.9% due to lower sales registered from North America and Europe region. Profit after taxation decreased by 30% mainly attributed to the higher advertisement and promotion expenses from Malaysia market.
The Board expects the performance of the group to remain profitable for fiscal 2012.
Kawan Food Berhad is a Malaysia-based investment holding company that operates in the food processing industry. The Company is involved in the manufacturing, sale, trading and distribution of frozen food products. It operates over two manufacturing plants, which are located in Pulau Indah, Selangor, and in Nantong, China. The Company produces a range of food products, including paratha, spring roll, pastry, frozen vegetable, chapati, finger food, bakery and desserts that are sold under five brands, such as Kawan, KG Pastry, Passion Bake, Veat and aman. Its products are exported to over 37 territories, which utilizes a range of distribution channels, such as distributorship, direct sales to key account customers, e-commerce, and sales to retailers and wholesalers. The Companyâs wholly owned subsidiaries include Kawan Food Manufacturing Sdn. Bhd., KG Pastry Marketing Sdn. Bhd., Kawan Food Confectionery Sdn. Bhd. and Kawan Food (Hong Kong) Limited.