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Worldwide Cocoa Industry to 2027 - Europe and Asia-Pacific are Driving the Cocoa Market
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Thursday, 27 May 2021 09:08 PM MYT
KUALA LUMPUR, May 27 Cocoa manufacturer Guan Chong Bhd’s net profit dipped 53 per cent to RM33.9 million in the first quarter ended March 31, 2021 (Q1 FY2021) from RM72.2 million in the same period last year due to narrowing margin but remain upbeat of industry picking up in the second half of 2021.
Revenue edged up 5.6 per cent to RM960.12 million compared to RM909.38 million previously.
“The weaker bottom line was due to higher freight costs and competitive margins as a result of lower combined ratios of cocoa ingredients, an indicative measure of selling prices over cocoa bean costs.