Kawan Food Berhad: Kawan Food's net profit down 9.5% dragged by higher selling and operation expenses

Kawan Food Bhd's net profit fell 9.5% in the fourth quarter ended Dec 31, 2022 (FY22) to RM8.66 million, from RM9.56 million despite higher revenue, dragged by higher selling and distribution expenses incurred in the quarter. Selling and distribution expenses surged 57.23% to RM14.91 million from RM9.48 million, the group's filing showed. However a 26.36% decline in administration expenses to RM5.4 million helped to cushion the quarterly earnings contraction.