Guan Chong Bhd's (GCB) pre-tax profit for the fourth quarter ended Dec 31, 2010 rose to RM32.2 million from RM9.4 million in the same quarter of 2009.

Revenue increased to RM332.3 million from RM217.8 million previously, it said in a filing to Bursa Malaysia today.

GCB said the increase in revenue was mainly due to a higher sales volume and market price of cocoa products.

It also said the higher pre-tax profit recorded was mainly due to the higher revenue generated, net gains arising from foreign exchange due to appreciation of the ringgit, gains on commodity futures contracts and net fair value gains on foreign exchange derivatives.

The group was optimistic about its performance in the FY11 since the new cocoa processing plant located in Batam, Indonesia, is going to commence production in the first quarter 2011.

GCB is a manufacturer of cocoa-derived food ingredients. -- BERNAMA