Malayan Flour Mills Bhd (MFM) expects to remain profitable for the current financial year but anticipates challenges in the remaining months of 2022 amid macro uncertainties.
In a filing with Bursa Malaysia, the poultry processor and flour mills operator said the prices of wheat are expected to stay elevated into 2023 due to global weather challenges, even as some commodity prices are beginning to stabilise.
"Going forward, the flour milling business will continue to sustain our earnings, while the poultry integration segment is expected to enhance profit contribution to MFM as we accelerate the capacity utilisation at our primary processing plant," said executive deputy chairman Teh Wee Chye in a statement.
In the third quarter ended Sept 30, 2022, MFM said net profit was RM46.21mil, bounding higher from a net profit of RM3.91mil in the previous corresponding quarter, due mainly to the improving operations of the group’s poultry integration (PI) segment.
"The PI segment, operated by the joint venture (JV) company with Tyson Foods, delivered an improved financial performance in 3Q22, after turning around only in the preceding quarter. The segment’s share of profit from its 51% equity stake came in at RM19.1mil, versus a share of loss of RM13.9mil last year,
See what i mean? Don't get trapped by mflour slight upward movement. You can study this stock price trends and you would avoid such company. Don't expect to see anything good from this counter
i sold @.795- cannot be greedy. If you can make a few thousands, let go and buy other stocks as there are so many stocks that have the potential to make profit.
waiting for the outcome of-MyCC Gives Final Time Extension to Leong Hup, PPB and MFM in Alleged Poultry Feed Price-fixing Case. Then will buy again MFM
Chicken and egg price not only increase locally, but also globally like in US, UK, taiwan etc. Feedstock cost like soya, corn, wheat are ease off and normalize back but selling price remain elevated. US currency also on weakness, further reduce import cost, boosting up profit margin. Ceiling price will be lifted in next 2 month, selling price will base on market demand
Short MA already ready to cut over Long MA, signs of increasing bullishness. TP1: 0.81 with resistances at 0.83, 0.86. Breaking the final one will confirm bullishness is back
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
idunwork
415 posts
Posted by idunwork > 2022-11-21 14:05 | Report Abuse
Glad that i have accumulated enough of MFLOUR. Hope to see rm1 soon.