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The Condensed Financial Statements should be read in conjunction with the Company's Audited Financial Statements for the financial year ended 31 May 2009
The Condensed Financial Statements should be read in conjunction with the Company's Audited Financial Statements for the financial year ended 31 May 2009
For the financial year ended 31 May 2010, the Group posted a revenue of RM1,506.2 million, a decrease of approximately 8.7% compared with RM1,650.9 million in the last financial year. The sales decrease was mainly due to lower sales contribution from the Industrial Chemical Division. Profit before tax ("PBT") stood at RM35.1 million compared with RM15.1 million a year ago.
For the current quarter under review, the Group achieved sales of RM373.5 million, an increase of 17.5% from RM317.8 million in the corresponding quarter last financial year. However, PBT decreased to RM5.5 million in the current quarter compared with RM7.2 million posted in the corresponding quarter last financial year. The Industrial Chemical Division, being the key segment of the Group, experienced erosion in its profit margins due to unfavourable market conditions. This has resulted in the overall depressed PBT for the Group compared with corresponding quarter last year.
Barring unforeseen circumstances, the Directors are of the opinion that the Group's performance for the next financial year ending 31 May 2011 is expected to be satisfactory.