Sarawak Plantation returns to the black in 1Q17

Friday, May 19, 2017
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Sarawak Plantation Bhd recorded a net profit of RM13.19 million in the first-quarter for the financial year ended March 31, 2017 (1Q17), from a net loss of RM756,000 a year ago, due to improved selling volumes and prices of crude palm oil (CPO) and palm kernel (PK). 

In an exchange filing yesterday, the oil palm planter’s revenue increased 76.6% year-on-year to RM109.63 million on higher realised average selling prices (ASPs) of CPO and PK, as well as higher sales volume of CPO and PK during the period under review. 

During the quarter, APSs of CPO and PK increased by 31.4% and 56% respectively, whereas sales volumes of CPO and PK rose by 31.5% and 29.6% respectively. 

No dividend was declared for the current term. For the current financial period, the oil palm operations segment contributed 99.8% of the group’s revenue of RM109.6 million. 

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