Etika International Holdings, one of the world’s largest manufacturers and distributors of sweetened condensed milk and a leading regional Food and Beverage (F& B) group, says profit attributable to equity holders dipped 77.6% y-o-y to RM4 million ($1.68 million) for the first quarter ended December 31, 2010 (1QFY2011).
Group turnover for Q1FY2011 was RM206.3 million, registering a RM42.7 million, or 26.1% increase over the previous corresponding period.
Etika says the higher revenue was due mainly to improved sales performance across all the group’s divisions except the Packaging Division, as well as the inclusion of new Malaysian and Indonesian subsidiaries Family Bakery Group, PT Sentrafood Indonusa and PT Sentraboga Intiselera in the bakery products and instant noodles segments.
Given the current sales volume and revenue for both domestic and export markets which remain encouraging, together with the introduction of a new range of products, Etika is optimistic that a reasonable growth could still be achieved amidst a challenging commodity market environment.
