Aku ada 5 biji.
MBF Holdings Bhd's pre-tax profit for the third quarter ended Sept 30, 2010 declined to RM7.415 million from RM33.239 million in the same quarter last year. The decline in the pre-tax profit was due to the initial losses of the newly set up shipping operations and losses from the operations in Fiji. However, revenue surged to RM561.859 million from RM441.347 million previously, it said in a filing with Bursa Malaysia today.
The increase in revenue was contributed by the operations in Papua New Guinea (PNG), namely its automotive and trading activities, the shipping operations and the lift and elevators manufacturing operations in China. This was however mitigated by the lower contributions from Fiji's retail and wholesale operations. The company said for the nine-month period, its pre-tax profit fell to RM68.499 million from RM71.668 million in the same period last year but its revenue rose to RM1.488 billion from RM1.323 billion. The operations in Malaysia are expected to remain challenging, particularly the card and payment services, with the continuing intense competition from the three other credit card issuers. PNG's robust economy augurs well for the group's operations whilst Fiji is expected to remain dismal for the remaining period of the year. -- BERNAMA
