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For the quarter and year under review, the MPM divisions was affected by lower contribution from surimi and fishmeal operations due to overall lower fish catch.
As a consequence, MPM's current quarter sales decreased marginally and earnings decreased 36% against corresponding quarter. Although cumulative sales increased 4% but earnings decreased 13% against corresponding period respectively.
POA's current quarter sales increased 45% against corresponding quarter mainly due to higher CPO price and volume of FFB processed by Indonesian plantation unit. (CPO price: RM3,129 current qtr vs RM2,321 corresponding qtr)
POA's current quarter earnings increased significantly due to:
POA's cumulative sales increased 14% mainly due to higher CPO price as well as higher FFB processed by Indonesian unit oil palm operations. Cumulative earnings increased 138% due to the same reasons.
For the quarter and year under review, the ILF divisions was affected by the following factors:
As a results, current quarter sales increased 2% and current quarter earnings increased significantly against corresponding period, while cumulative sales and earnings increased 5% and 24% respectively against corresponding period.
MPM's current quarter sales only decreased 7% against preceding quarter due to seasonal factor. Earnings decreased 47% against preceding quarter due to the same reason.
POA's current quarter sales increased 16% against preceding quarter due to higher CPO price (RM3129 in Q4) vs (RM2867 in Q3). Earnings increased 18% due to higher CPO price as well as higher volume of FFB processed in Q4.
ILF's current quarter sales increased 4% against preceding quarter was mainly due to higher contribution from Indonesian feedmill unit. Earnings increased 31% against preceding quarter mainly due to gain on disposal of investment properties.
Barring unforseen events, the management are confident that Q1FY18 performance will continue to be satisfactory.