KUALA LUMPUR (May 24): Kim Teck Cheong Consolidated Bhd posted a net loss of RM1.67 million in its third quarter ended March 31, 2016 (3QFY16), the first quarterly loss since its listing on the ACE market in November last year.

The group attributed the loss to weak consumer sentiment and the erosion of margin on sales of new beverage products, besides inventory write-offs of expired beverage products, its bourse filing today showed.

The losses also caused the group's cumulative nine-month net profit to fall to RM897,000; it had chalked up a half-year net profit of RM2.56 million previously.

Meanwhile, the group posted a revenue of RM80.23 million in its latest quarter, bringing its 9MFY16 revenue to RM243.15 million.

With the group's growth and expansion plans in place, the management expects the group's overall performance for the financial year ending June 30, 2016 will remain satisfactory.

"We believe the group's operating environment, which is involved primarily with consumer products, will remain positive despite the weak market sentiment and global economic challenges," it said.

Kim Teck Cheong fell 29.5 sen or 4.84% to settle at 29.5 sen today.