MFM cautiously optimistic

21 May 2015 / 05:37 H.

    KUALA LUMPUR: Malayan Flour Mills Group (MFM) is cautiously optimistic on its 2015 growth despite registering a decrease in profit last year.
    MFM's pre-tax profit dropped 11% to RM83.7 million for the year-ended Dec 31, 2014.
    Managing director Teh Wee Chye said the decrease was mainly due to low contribution from its new joint venture in Indonesia with PT Bungasari Flour Mills Indonesia, which started operations only in the second half of 2014.
    Meanwhile, MFM's poultry integration business delivered RM52.9 million in operating profit last year, up 59%, from RM33.2 million in 2013.
    Group revenue for 2014 was recorded at RM2.3 billion with the flour and trading in grains constituting 62%.
    MFM earnings per share rose to 12.59 sen from 12.44 sen in 2013.

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