The Group recorded a total revenue of RM668.13 million in the current quarter compared to the preceding quarter of RM624.20 million due to higher overall sales volume and average selling price.
The Group recorded LAT of RM72.80 million for the three months period ended 30 September 2022 compared to the preceding quarter of RM34.07 million. The higher loss recorded in this quarter was attributable to high input costs mainly freight, natural gas, and the weakening of the Ringgit.
The Group said it continues to face the prevailing challenging environment amidst high input costs mainly raw sugar, freight,
natural gas, and the weakening of the Ringgit. Other input costs such as packaging materials, wages, and inland
logistics have also increased significantly
The domestic and export markets are seeing stronger demands which provide growth opportunities and recovery of
product consumption including sugar across Consumer and Industrial segments.
MSM however reiterated that it remains focused on meeting these demands by improving its operations particularly focused on MSM Johor ramp-up to attain lower refining costs with higher efficiency. It will also ensure a consistent supply of sugar is made available to the market and continue to engage the Government for all necessary economic support in ensuring food security despite the challenges
