MSM narrows Q3 losses

TheStar Tue, Nov 17, 2020 07:50am - 3 years View Original


“As conditional movement control orders result in lesser social gatherings and limited travel, it will take some time before national sugar consumption returns to its pre-pandemic levels, ” it said in a filing with Bursa Malaysia.

KUALA LUMPUR: Sugar producer MSM Malaysia Holdings Bhd narrowed its losses in the third quarter but said outlook remained challenging due to the economic disruptions.

“As conditional movement control orders result in lesser social gatherings and limited travel, it will take some time before national sugar consumption returns to its pre-pandemic levels, ” it said in a filing with Bursa Malaysia.

For the three months ended Sept 30, MSM’s net loss fell to RM71.2mil from RM185.1mil a year ago, while revenue rose 11.8% to RM594.6mil from RM531.7mil.

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