KUALA LUMPUR, Feb 22 — MSM Malaysia Holdings Bhd’s pre-tax profit for the financial year ended Dec 31, 2016 fell to RM148.52 million (FY16) from RM372.13 million in the same period of 2015.

Revenue, however, rose to RM2.66 billion from RM2.31 billion previously.

In a filing to Bursa Malaysia today, MSM Malaysia attributed the higher revenue to the improved selling price, higher volume of refined sugar sold as well as higher trading revenue.

On the lower pre-tax profit, the leading refined sugar producer said, it was weighed down by the higher raw material costs and the weak ringgit.

In the fourth quarter of FY16, its pre-tax profit fell to RM24.43 million from RM91.76 million in the same quarter a year earlier.

Its revenue surged to RM838.31 million from RM663.97 million previously.

"Notwithstanding the volatility of the commodity prices, the group is expected to be able to perform in line with the industry,” it said. — Bernama