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F i m a C o r p o r at i o n B e r h a d ( 2 1 1 8 5 - P ) •
A n n u a l R e p o r t 2 0 1 8
Dear Shareholders,
The first part of FYE2018 was a
particularly challenging period for the
Group with a variety of factors developing
negatively as the year progressed, in
particular, the expiration of a major
supply contract for our manufacturing
subsidiary and the initial outcome of
our Indonesian subsidiary PT Nunukan
Jaya Lestari’s (“PTNJL”) legal suit. The
matter is currently pending before the
Mahkamah Agung whose decision is
expected in the coming months.
When there are so many unexpected
external variables affecting business, the
only constants are the values that guide
our day-to-day actions. For that reason,
the theme of this Annual Report focuses
on our employees, the people who apply
those values through their actions and
resolve amid a variety of pressures.
Results
The diverse nature of the Group’s
operations continued to provide
underlying support through the current
macro-economic conditions and highly
competitive market.
Group revenue decreased 23.5% to
RM284.65 million (FYE2017: RM372.10
million). Revenue gains from the
improved performance of Plantation
Division had been materially offset by
the marked decline in Manufacturing
Division’s revenue impacted by the
expiration of a major supply contract.
The Group’s PBT increased to RM63.30
million compared to RM61.26 million
recorded last year.
The Group’s Profit Before Tax (“PBT”) increased
to RM63.30 million compared to RM61.26 million
recorded last year.
It is noteworthy that the Plantation Division is
continuing to drive strong revenue growth, having
contributed over 48.5% of the Group’s revenue for
the year (FYE2017: 35.8%).
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It is noteworthy that the Plantation
Division is continuing to drive strong
revenue growth, having contributed over
48.5% of the Group’s revenue for the
year (FYE2017: 35.8%).
The results we’re seeing today reflect
the overall soundness of our strategy. A
few years ago, we made the decision to
reposition our portfolio and expand the
Group’s plantation land banks in order to
improve the Group’s earnings profile. The
benefits of our greenfield acquisition over
recent years are gradually being realized.
As you can see, Plantation Division is
moving toward their long-term growth
with more areas attaining maturity which
gives us confidence that the investments
we have been making are the right ones
and will drive our future growth on both
our top and bottom lines.
RM284.65mil
Group Revenue
RM63.30mil
group Profit before tax
RM63.41mil
Group earnings before
interest and tax