CEO and managing director Brandon Tay Hoe Lian
KUALA LUMPUR: Guan Chong Bhd
posted a record-breaking net profit of RM92mil in the first quarter ended March 31 (1Q24), more than tripled from RM23.8mil in the previous corresponding quarter.
The fourth-largest cocoa grinder attributed the higher profit due to better grinding margins, driven by high demand for cocoa ingredients surpassing bean supply in the current global shortage.
