PETALING JAYA: Batu Kawan Bhd
expects its manufacturing segment, particularly the oleochemical businesses in Europe and China, to remain challenged with weakness in consumer demand.
In a filing with Bursa Malaysia, the company said its industrial chemical division also faces product price declines and higher energy and raw materials costs.
For its third quarter ended June 30, 2023, Batu kawan’s net profit plunged to RM82.81mil from RM304.30mil in the previous corresponding period, while revenue slipped to RM5.35bil from RM7.25bil a year earlier.
Basic earnings per share stood at 21.05 sen, versus 77.22 sen previously.
“Overall, the group’s financial performance is expected to be significantly lower for the financial year 2023 compared to the previous financial year. However, the result of the fourth quarter is expected to be better,” it said.
