Guan Chong’s earnings double on lower price

  • Business
  • Tuesday, 15 Aug 2017

PETALING JAYA: Cocoa manufacturer GUAN CHONG BHD’s earnings for the second quarter ended June 30 more than doubled from a year ago on the lower price of cocoa beans and a higher foreign-exchange gain.

In a filing with the stock exchange, the company said net profit jumped almost 115% to RM22.88mil for the quarter from RM10.66mil in the previous corresponding quarter.

Its revenue saw a 17.3% decline to RM482.30mil from RM583.39mil previously, due to the lower sales volume of cocoa cake and the selling price of cocoa butter.

This translated to an improved earnings per share of 4.79 sen from 2.23 sen in the previous year.

“The group posted a profit before tax (PBT) of RM27.1mil for the current quarter compared to a PBT of RM6.8mil in the immediate preceding quarter,” Guan Chong said.

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