MSM returns to the black in 4Q23

KUALA LUMPUR: MSM Malaysia Holdings Bhd continues to reinforce its domestic and export market amidst stronger demand and explore other regional market opportunities due to the rising global sugar deficit.

The company returned to the black in the fourth quarter ended Dec 31, 2023 (4Q23), with a net profit of RM42.9mil against a net loss of RM44.2mil in 4Q22, on improved margins and higher capacity utilisation, despite higher production cost.

Revenue for the quarter jumped 40.15% to RM949.8mil from RM677.7mil last year mainly due to the 27% higher average selling price and 11% higher sales volume, mainly contributed by 48% increase in export segment.