Ann Joo Resources Bhd posted a lower pre-tax profit of RM13.52 million for its third quarter ended Sept 30, 2010, a 37 per cent decrease from RM48.86 million in the previous corresponding quarter.

Revenue declined to RM333.93 million from RM382.18 million previously.

In a filing to Bursa Malaysia today, it said the decline is attributable to the higher cost of sales arising from higher raw material costs despite a continuous improvement in operational efficiency.

However, for its nine-month period ended Sept 30, the company's cumulative pre-tax profit shot up to RM137.41 million from the RM10.4 million recorded in the previous corresponding period.

Revenue rose to RM1.4 billion from RM1.02 billion previously.

The company said its performance will remain satisfactory for the rest of the fiscal year, and is confident of achieving a better 2011 performance, riding on an improved outlook in both the domestic and international markets. -- Bernama