JB Foods

JB Foods - Annouced a very weak 1Q13 results yesterday, which saw the grp swing to a net loss of Rm1.4m vs a profit of RM12m y/y. Despite revenue increaseing 13.5% to RM162.5m, bottom-line was weighed by a 29% increase in cost of sales to RM158m and selling and distribution expenses rose 99% to RM2.4m due to an increase in feright costs, resulting in an 11.6ppt drop in gross margins to 2.8%.