Рентабельность птицефабрики CCK осталась устойчивой во втором квартале 2026 года несмотря на пожар в Индонезии

KUCHING (August 27): Sarawak-based poultry firm CCK Consolidated Holdings Bhd’s (CCK) underlying profitability remained resilient in the second quarter of 2026 (2Q26) despite its reported earnings being significantly affected by a fire at its Cikupa manufacturing facility in Indonesia. For the quarter, group revenue declined three per cent year-on-year (y-o-y) to RM250.7 million mainly due to lower contributions from the prawn segment and Indonesian operations. “However, underlying profitability remained resilient, with a core profit of RM19 million after excluding one-off expenses, especially the approximately RM16 million in fire-related expenses. “Gross profit margin also remained healthy at 21.9 per cent,” RHB Investment Bank Bhd (RHBIB) said in a note on Thursday. For the first half of 2026 (1H26), revenue remained resilient at RM513.8 million, down 1.6 per cent y-o-y, while reported profit before tax (PBT) stood at RM27 million. Excluding major one-off expenses, its core profit after tax and minority interest (PATAMI) came in at RM36.3 million, accounting for about 55 per cent of RHBIB’s full-year 2026 forecast earnings. It said the Indonesian manufacturing business was the main drag on 2Q26 earnings, with revenue falling to RM42.4 million from RM55.5 million previously, reflecting lower production volumes following the Cikupa fire and the weaker Indonesian rupiah. That said, the research house said its underlying demand remains encouraging, with CCK’s Pontianak facility operating at full capacity to meet demand for its in-house manufactured processed products. On the Cikupa fire, the house viewed it as a temporary earnings disruption rather than a deterioration in CCK’s underlying fundamentals. The group has already reviewed about RM3.4 million in insurance proceeds, while the final recovery remains subject to assessment. The upcoming Boyolali food processing facility, which is twice the size of Cikupa, is expected to commence operations in 4Q26. “The facility is expected to provide substantially greater production capacity than that affected by the Cikupa fire, which supports further market expansion,” it said. Meanwhile, Public Investment Bank Bhd (PublicInvest Research) was less upbeat, saying that production capacity recovery would be gradual as the group focuses on restoring lost output through the new Boyolali food processing facility from 4QFY26. “Rising feed raw material costs pose an additional risk, while potential cost pass-through to consumers could dampen broiler demand amid an already cautious spending environment,” it said. Nonetheless, PublicInvest Research said the commissioning of new production lines in 4Q26 provided some visibility for medium-term earnings recovery.