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Annual Report 2017

47

Contributing

20.9%

of total

group Revenue

Contributing

7.7%

of total

group PBT

FOOD

DIVISION

Food Division realized a 29.2% growth

in revenue to RM114.26 million from

RM88.42 million last year. PBT also

improved 38.1% y-o-y to RM6.52 million,

marking significant value growth for the

Group.

Our PNG subsidiary, International

Food Corporation Limited (“IFC”) has

performed particularly well and continues

to represent a strong earnings driver

for the Group. IFC managed to sustain

strong volume and revenue growth in

the tuna segment for both the local and

export markets. Compared to last year,

exports of tuna products to the European

Union, IFC’s major export destination,

have more than doubled both in terms of

volume and value. The favourable growth

in this segment had largely offset the flat

growth of the mackerel segment which

grew 3.4% volume-wise but declined

3.9% regarding value. The challenge now

is to build on the upward momentum of

the tuna segment through strengthening

and broadening of customer base and

expansion into new markets.

revenue contribution by product

PRODUCT VOLUME BY CARTON

22.1%

1.1%

4.9% 0.6%

280,593

61.8%

122,360

9.5%

Tuna-Domestic

Mackerel

Tuna-Export

Tuna-Loin

Mackerel

Tuna-Whole

Round

Tuna-In

House (Local)

Tuna-Export Can

Fishmeal

187,378