KUALA LUMPUR: Malaysian agribusiness company QL Resources said its net profits rose 3% year-on-year to 42.12 million ringgit ($10.42m) during the first quarter that ended in June, reports Nikkei Asia Review.
The company attributed the rise to increased sales of marine products including fish paste and fish feed. QL Resources’ three main businesses are marine product manufacturing, palm oil production and integrated livestock farming which compose 32.18%, 13.33% and 54.47% respectively, of the company’s operations.
The company also reported a 2.2% increase in revenue to 669.53m ringgit during the same quarter. Revenue from its marine product segment rose 16% while its other divisions saw a drop in sales due to raw material production or delivery issues.
