- Hup Seng Industries (Hup Seng) reported a marginal 0.2 percent increase in its 4Q16 net profit to RM15.4 million.
- The group’s revenue expanded 3.4 percent to RM82.8 million on higher demand for biscuits in the market.
- Full year revenue dropped slightly by 0.4 percent to RM285.6 million, while net profit slid 9.7 percent to RM49.4 million.
- Hup Seng expects FY17 to be a profitable yet challenging year, on the back of rising cost of raw materials.
Significance: Hup Seng commented that it will continue to enhance its operating efficiency to minimise the impact of higher input cost.