Malaysia Pack­ag­ing In­dus­try net loss nar­rows in Q3

The Sun (Malaysia) - - SUNBIZ -

PETAL­ING JAYA: Malaysia Pack­ag­ing In­dus­try Bhd nar­rowed its net loss to RM595,000 in the third quar­ter ended Sep 30, 2016 (Q3’FY16), from RM4.18 mil­lion in the pre­vi­ous cor­re­spond­ing quar­ter, mainly due to un­re­alised for­eign ex­change gain reg­is­tered dur­ing the quar­ter.

Rev­enue slightly de­clined by 0.3% to RM21.91 mil­lion, com­pared with RM21.97 mil­lion last year, mainly due to lower de­mand for re­tort pouch.

For the nine-month pe­riod, its net loss re­duced to RM2.79 mil­lion, from RM6.28 mil­lion in the same pe­riod last year, while rev­enue slightly de­creased to RM66.16 mil­lion, against RM66.22 mil­lion pre­vi­ously.

In a fil­ing with Bursa Malaysia yes­ter­day, the pack­ag­ing ma­te­rial man­u­fac­turer said it ex­pects the busi­ness op­er­at­ing environment to be chal­leng­ing, due to un­cer­tain­ties in the global econ­omy and ris­ing costs.

How­ever, the com­pany said it will con­tinue to fo­cus on en­hanc­ing its busi­ness prof­itabil­ity by cost con­trol mea­sures and bet­ter man­age­ment of its prod­uct sales mix by ex­plor­ing new mar­ket op­por­tu­ni­ties.

The com­pany closed un­changed at RM1 yes­ter­day, with some 152,700 shares chang­ing hands.

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