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Financials

Quarterly Report For The Financial Period Ended 30 September 2018

Financials Archive

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Condensed Consolidated Income Statements For The Period Ended 30 September 2018 (Unaudited)

Income Statement

Condensed Consolidated Statement Of Financial Position

Review of performance for the current quarter and financial period to-date

Review of performance for the current quarter and financial period to-date.

Review of performance for the current quarter and financial period to-date

  1. MPM's current quarter sales increased 23% against corresponding quarter mainly due to recovery of low fish catch cycle and higher contributions from surimi-based products. Earnings for the current quarter increased 21% due to the same reason.
    Cumulative sales and earnings increased 12% and 11% respectively due to the same reason.

  2. POA's current quarter sales increased 6% against corresponding quarter mainly due to sale of unsold previous quarter CPO stocks despite decrease in own FFB production. POA's current quarter earnings however decreased 153% against corresponding quarter mainly due to lower OER in Indonesian plantation unit (poor fruit setting) as well as lower CPO price (RM2,198 current qtr vs RM2,650 corresponding qtr).
    POA's cumulative quarter sales and earnings decreased 20% and 86% respectively against corresponding quarter mainly due to:

    • decrease in own FFB production caused by poorer fruit setting in Indonesia plantation unit as well as post El-Nino tree stress on older plant in Tawau.
    • decrease in FFB processed in Indonesia operation due to overall poor production, resulting in less outside crop;
    • lower OER in Tawau caused by labour shortage and post El-Nino tree stress. Indonesian unit also faced lower OER due to excessive rainfall which affect fruit setting;
    • lower CPO price.
  3. ILF's current quarter sales increased 11% against corresponding quarter mainly due to higher sales contribution from Peninsular Poultry units Earnings however decreased 2% due to lower contribution from Indonesia and East Malaysia Poultry units.
    Similarly ILF's cumulative sales increased 14% against corresponding quarter due to the same reasons. Cumulative earnings increased 8% mainly due to egg price recovery in Q2 from Peninsular poultry units.

Review of current quarter performance with the preceding quarter.

Review of current quarter performance with the preceding quarter.

  1. MPM's current quarter sales increased 23% against preceding quarter due to seasonal factors as well as recovery of low fish catch cycle. Earnings increased 27% due to the same reason.

  2. POA's current quarter sales increased 14% against preceding quarter mainly due to sale of unsold previous quarter CPO stock. Earnings however decreased 158% due to lower OER as well as lower CPO price (RM2,198 current qtr vs RM2,364 preceding qtr).

  3. ILF's current quarter sales increased 8% against preceding quarter mainly due to higher contribution from all poultry units as well as higher sales from raw material trade. Earnings increased 69% against preceding quarter due to the higher contribution from Malaysia poultry units.

Prospects for the year ending 31st March 2019

Barring unforeseen events, the management are confident that H2FY2019 performance will be satisfactory.


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