MPI's 4Q net profit plunges 90% to RM8.1mil

KUALA LUMPUR: Malaysian Pacific Industries Bhd (MPI) expects the operating environment to remain challenging for the coming quarters.

“The group will continue to focus on its business strategies and operational efficiencies,” MPI said in its notes accompanying its financial statement.

In the fourth quarter ended June 30 (4Q), MPI saw its net profit tumble 89.9% to RM8.14mil or 4.09 sen per share from RM80.49mil or 40.47 sen per share a year ago due.

Revenue fell 21% to RM482.43mil against RM612.04mil last year.

For the full financial year ended June 30, its net profit plunged 81% to RM61.3mil from RM328.8mil while revenue fell by 15% to RM2.04bil from RM2.4bil a year ago.