Halal Industry

Malaysia’s halal-certified snacks, confectionery maker London Biscuits profit plunges

Malaysia’s halal-certified London Biscuits Berhad reported a loss of 19.71 million ringgit ($4.69 million) for the three months ended June 30 from 2.39 million ringgit profit for the same period last year.

The snacks and confectionery maker said in a bourse filing on Friday the Group’s performance “was affected by domestic festivities and dampened overseas demand due to conservative consumer sentiments arising from various economic and geo political factors”.

London Biscuits Berhad’s financial year ends September 30.

Revenue from its domestic market dropped 57 per cent to 45.9 million ringgit compared to 107.41 million ringgit in its second quarter ending March 31. Its first-quarter ending December 31 earned it 82.35 million ringgit in revenue from Malaysia.

The Johor Bharu-based company did not report domestic and international revenue segments for third-quarter 2018.

Revenue from outside Malaysia dropped 39.8 per cent to 8.55 million ringgit for its third-quarter, from 14.2 million ringgit in Q2. It earned 26.66 million ringgit from overseas markets in Q1.

The company manufactures and sells JAKIM halal-certified Kinos-brand snacks and Lonbisco-branded confectionery.

It competes in the confectionery, sweets and candies, snacks, and potato segments.

 ($1 = 4.2054 Malaysian ringgit)

© SalaamGateway.com 2019 All Rights Reserved


Author Profile Image
Staff Writer