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Silver Bird Eyes Bigger Share Of Halal Mart

News From : DagangHalal.com (12 Aug 2010)

Silver Bird Group Bhd, the country’s sole listed bread and confectionery maker, plans to push hard into halal markets worldwide as it seeks to boost its exports.

Exports make up about a quarter of its revenue currently, but it aims to increase this to at least a third by 2013, group managing director Datuk Jackson Tan said.

“We have a good presence in the Middle East, in countries such as Bahrain, Dubai, the UAE (United Arab Emirates) and Abu Dhabi,” he said in a interview with Business Times.

The group plans to tap more of the halal market with new products.

“Right now, we are halal, but we want to concentrate on it more. Our export market is 25 per cent, but with this new concentration we aim to grow more. For a start, we plan to exhibit at the Paris food fair in October,” Tan said.

Silver Bird made its first net profit in four years in the financial year ended October 31 2009. It made a net profit of RM1.4 million against a loss of RM21.2 million in 2008.

However, revenue was down 8 per cent to RM589 million in 2009.

The producer of High5 loaf bread will be increasing the production capacity at its plant in Shah Alam, Selangor, by the first quarter of next year.

“We plan to increase our production capacity by 80 per cent in the first quarter of next year.

“We bought some machines from the US that are state-of-the-art in bread-making and we are now installing them,” Tan said, declining to reveal the cost.

The group is already doing better so far this year compared to fiscal year 2009.

Silver Bird made a net profit of RM1.55 million in the six months ended April 30 2010.

Second quarter net profit was RM758,000 compared with RM392,000 a year ago.

Shares of Silver Bird have lost 2.7 per cent so far this year, compared to the broader market’s 6.3 per cent gain.

Its stock closed 1 sen higher at 73 sen yesterday.

— Business Times

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