KUALA LUMPUR: Malayan Flour Mills Bhd (MFM) has returned to the black in the second quarter (Q2) ended June 30, 2021, registering a net profit of RM128.31 million from a net loss of RM4.48 million recorded in the same quarter a year ago.
In a filing to Bursa Malaysia today, the company said the increase in net profit in Q2 was due to better operating profit generated by its flour and grains trading segment.
The company's flour and grains trading segment recorded a higher operating profit of RM39.2 million in Q2 FY21 as compared to an operating profit of RM33.1 million in Q2 2020.
Revenue in the same quarter improved 9.6 per cent to RM576.17 million from RM525.54 million.
During the six month period, MFM recorded a net profit of RM145.97 million from a net loss of RM21.27 million, while revenue increased 7.3 per cent to RM1.11 billion from RM1.04 billion.
Moving forward, MFM expects to remain profitable in 2021 despite the uncertain economic environment, volatile commodity prices, foreign exchange rates and lingering effects of the Covid-19 pandemic.
"The board looks forward to the positive effect of the partnership with Tyson International Holding Company on the poultry integration business," it said.
