Mewah International Inc has reported a 64.9% fall in earnings in the fourth quarter ending Dec 31 to US$12.67 million ($15.9 million) from US$36.05 million a year ago.
Revenue fell 4.3% to US$1.01 billion due to lower sales volume.
High crude palm oil production in Indonesia and Malaysia and slowing demand from destination markets have continued to push crude palm oil prices down in the quarter.
For the full year, Mewah reported a 54.3% fall in earnings to US$42.25 million from a year ago.
Revenue rose 26.5% to US$4.47 billion, on the back of 33.4% hike in average selling prices.
No comments:
Post a Comment