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Home > Investor Relations > Financial Information > Financials

Financials

Quarterly Report For The Financial Period Ended 31 March 2013

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Condensed Consolidated Income Statements For The Period Ended 31.3.2013(Unaudited)

Condensed Consolidated Statement Of Financial Position

Review Of Performance For The Current Quarter And Financial Period To-Date

1. MPM's current quarter sales increased 12% against corresponding quarter due mainly to higher volume of surimi-based products and fishmeal sold.
   MPM's current earnings increased 29% against corresponding quarter is due to the same reason.

   Cumulative sales increased 15% mainly due to higher contribution from fishmeal and surimi-based products operations, both domestic and regional.
   Cumulative earnings increased 41% due to increased sales volume as stated above as well as increased in operation margins.

2. POA's current quarter sales decreased 5% against corresponding quarter mainly due to lower CPO prices (RM2,212 current qtr vs RM3,140 corresponding qtr) despite higher FFB processed.
   POA's current quarter earnings increased significantly mainly due to higher contributions from CPO mills and higher earnings from associates (Boilermech) .

   POA's cumulative sales decreased 15% mainly due to lower CPO prices (Current year average of RM2,602 per mt vs last year of RM3,130 per mt).
   Cumulative earnings increased 10% mainly due to higher contribution from CPO mills and higher earnings from associates (Boilermech).

3. ILF's current quarter sales increased 18% against corresponding quarter mainly due to higher unit value of feed raw material and higher regional sales contribution.
   Current quarter earnings, decreased 24% against corresponding quarter mainly due to lower farming margins (arising from significant increase in global feed cost due to USA drought).

   Cumulative sales increased 16% are due to higher unit value of feed raw materials as well as higher contribution from Indonesia and Vietnam's poultry operations.
   However, cumulative earnings decreased 27% mainly due to lower farming margins (results of extreme increase in global feed cost due to USA drought).

Review Of Current Quarter Performance With The Preceding Quarter

1. MPM's current quarter sales decreased marginally against preceding quarter due to seasonal factor.
   Earnings decreased 33% against preceding quarter is due to the same reason.

2. POA's current quarter sales decreased 15% against preceding quarter is mainly due to lower FFB processed.
   Earnings decreased 17% due to the same reason.

3. ILF's current quarter sales increased 13% against preceding quarter mainly due to higher volume of raw material trade and higher farm products prices.
   Earnings increased significantly against preceding quarter mainly due to higher raw material trade margin as well as recovery of farming margins.

Commentary On Prospects For The Next Quarter To 30 June 2013

The management expect ILF's farming margin to continue to recover in Q1 after FY2013's weak ILF margin (arising from significant increase in global feed cost due to USA drought).
Overall, we are cautiously optimistic on the Group's performance for the Q1FY14.