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Kumpulan Fima Berhad

(11817-V)

28

CHAIRMAN’S

STATEMENT

Dear Shareholders,

FINANCIAL RESULTS AND

PERFORMANCE

For the financial year ended 31 March

2017 (“FYE2017”), the Group reported

consolidated revenue of RM547.21

million, 1.1% or RM6.10 million higher

compared to last year. However, profit

before tax (“PBT”) decreased 24.2% to

RM84.67 million compared with RM111.67

million recorded last year. The marked

reduction in PBT was mainly due to

impairment losses on property, plant

and equipment and biological assets in

the Group subsidiary, PT Nunukan Jaya

Lestari (“PTNJL”) totaling RM29.37 million

whichalso led to thedecline in theGroup’s

earnings before interest, taxation,

depreciation and amortisation (“EBITDA”)

to RM119.26 million, compared to the

EBITDA of RM150.43 million recorded last

year. Without the impairment losses, the

Group’s PBT would be RM114.04 million,

an improvement of 2.1% compared to last

year.

Earnings per share and net assets per

share stood at 10.70 sen and RM2.72,

respectively, from 20.51 sen and RM2.70,

respectively, the year before.

Food and Plantation Divisions have

performed particularly well and continue

to be potentially strong growth drivers

for the Group. Contributions from

the Manufacturing Division have also

10.70

sen

+66.7%

CASH FLOW GENERATED

FROM OPERATION

Increase Y-o-Y

+2.7%

SHAREHOLDERS’

FUNDS

Increase Y-o-Y

+0.7%

NET ASSETS PER SHARE

Earnings per share

Increase Y-o-Y

remained steady. However, Bulking

Division had experienced a challenging

year amid tough trading conditions within

the industry sector. A more detailed

review of the results and the operating

performance for the year of each of the

Group’s business divisions is presented

on pages 35 to 49 of this Annual Report.

FYE2017

was

characterised

by

unexpected events and challenging

trading conditions, the most notable

being the one faced by our Indonesian

subsidiary, PTNJL. In August 2016,

PTNJL was served with an order from the

Menteri Agraria dan Tata Ruang/Kepala

Badan Pertanahan Nasional revoking

PTNJL’s land title Hak Guna Usaha No.

01/Nunukan Barat (“HGU”) (“Ministerial