Higher advertising expenses, share of loss bite Hwa Tai

PETALING JAYA: Hwa Tai Industries Bhd saw its net loss for the first quarter ended March 31, widen to RM333,000 from 84,000 in the same quarter last year, due to higher advertising and promotional expenses incurred and higher share of loss from an associated company.

Revenue for the quarter under review rose 1.64% to RM15.23 million from RM14.98 million.
Hwa Tai told Bursa Malaysia that it anticipates macroeconomic conditions in Malaysia to remain challenging.
"The group will be vigilant and respond accordingly to the changing business dynamics and market environment with our constant focus in improving its performance," it said.
The biscuit manufacturer's share price closed 1.5 sen or 3.8% lower at 38.5 sen on some 77,300 shares done.