60 / 232
Revenue Contribution by
Company
(Rm million)
FYE2018
FYE2019
124.01
6.59 6.31
-4.2%
+1.1%
IFC
FISB
122.68
Profit Before Tax Contribution
by Company
(Rm million)
FISB Revenue Contribution
By Category
(Rm million)
FYE2018
FYE2018
FYE2019
FYE2019
7.42
>100.0%
1.05 0.90
-14.3%
IFC
Client/3
rd
Party
Brands
FISB
In-House Brands
0.31
Profit before tax for the year stood at
RM8.33
million
compared to RM1.36 million registered
in the prior year mainly attributable to foreign
exchange gain of RM0.67 million (FYE2018:
forex loss of RM8.53 million).
The division’s portfolio mix has
positioned it well amid dynamic
demand patterns experienced
during the year. Growth in the
tuna and mackerel segment in the
domestic PNG was entirely organic
as there were no new product
launches during the year - and
was driven by higher demand as
well as stronger advertising and
promotional activities. It is also an
indication that our existing brands
such as Besta McFlakes and Besta
Choice continue to be well-received
by PNG consumers.
Although the performance of the
canned tuna (export) segment
came in below expectations, we
have nevertheless been successful
in expanding the customer base
for our tuna loins and fishmeal
segments. Sales of tuna loins
increased almost twofold y-o-y
to RM21.69 million (FYE2018:
RM9.92 million), particularly to
the European Union. We also saw
continued strong demand for
fishmeal, whose sales improved by
approximately RM1.75 million to
RM2.22 million y-o-y. Fishmeal and
fish oil are derived from processing
activities which generate large
quantities of organic waste from
unused fish parts and is a rich
source of essential amino acids.
Global demand for shmeal and
sh oil is strongly in uenced by
the aquaculture and farmed animal
production sectors, as these
2 products are important high
protein ingredients in feed.
While our fishmeal production
currently makes up only a small
percentage of our business, it
nonetheless provides a major outlet
to recycle by-products from our
processing plant. Further, given
the anticipated growth in the
aquaculture sector on the back
of growing fish consumption,
demand for fishmeal is expected
to remain positive. These trends
also offer exciting opportunities
for us to consider pursuing fish
oil production as a potential new
revenue source.
Capital expenditure was RM3.4
million (FYE2018: RM4.59 million).
Major spend items in FYE2019 include
the purchase and refurbishment of
boilers and improvements of facilities
at our sites.
1.04 0.95
-8.7%
5.48
-4.2%
5.25
Kumpulan Fima Berhad
(11817-V)
Annual Report 2019
56