Kawan Food to face more challenges in export markets

Inter-Pacific Research expects Kawan Food to face more challenges in export markets, especially for the North America segment, despite sales picking up to countries such as China and Oceania.

PETALING JAYA: Kawan Food Bhd is seeing softening demand for its products from overseas markets and this was reflected in the group’s earnings miss despite having a well-diversified global customer base, says Inter-Pacific Research.

It said Kawan Food’s revenue and profit after tax and minority interest (Patami) for the first half of financial year 2023 (1H23) were below the research firm’s expectations, making up only 43.6% and 31.5% of its full-year forecasts, respectively.