CBIP net profit down 5.5%

KUALA LUMPUR: CB Industrial Product Holding Bhd’s (CBIP) net profit for the first quarter ended March 31, 2015 fell 5.5% to RM21.99mil, from RM23.28mil a year ago due to share of losses by the associates and joint venture.

The company disclosed on Thursday that the losses from the associates and joint venture were mainly attributed by the decline in production and lower prices of palm products.