Malayan Flour 3Q net profit declines 70%

PETALING JAYA: Malayan Flour Mills Bhd’s net profit tumbled by nearly 70% year-on-year (y-o-y) in the third quarter ended Sept 30, 2024 (3Q24), as a RM12.9mil loss from joint ventures offset higher sales from the flour and grain trading business.

The group reported a net profit of RM7.34mil in 3Q24, against its overall revenue that grew by 3.1% y-o-y to RM799.2mil.

Earnings per share fell to 0.59 sen in 3Q24. No dividend was announced for the quarter.

For the nine-month period ended Sept 30, 2024, the group’s net profit jumped by 96% y-o-y to RM64.1mil on reduced interest expenses and improved contribution margin, while revenue fell by 2.2% to RM2.3bil.