Malaysia: Kossan Rubber Q1 pre-tax profit down 28pc

Kossan Rubber Industries Bhd's pre-tax profit fell 28.04 per cent to RM27.9 million in the first quarter ended March 2011 from RM38.8 million in the same quarter last year.
Its turnover also declined 2.41 per cent to RM256.4 million from RM262.8 million in 2010.
In a filing to Bursa Malaysia, it said the lower turnover was partly due to the buyers holding lower stock levels amid the increase in raw materials, while the lower pre-tax profit was following the surge in natural rubber latex cost.
Kossan Rubber said the results for the first quarter was within
expectations, taking into consideration the increase in raw materials cost of natural latex and the weakening US dollar. – Bernama
(Source: http://www.btimes.com.my/Current_News/BTIMES/articles/20110519193704/Article/index_html)