Genting Plantations 4Q results boosted by downstream business

by TMR

Genting Plantations Bhd’s net profit for the fourth quarter (4Q) ended Dec 31, 2017, declined by 38% year-on- year (YoY) to RM117.7 million on higher property sales and off-take of refined palm products and biodiesel.

In an exchange ling yesterday, the plantation group’s turnover for the quarter increased by 2.9% YoY to RM528.4 million on positive performance from all segments.

The company has proposed a total dividend of 26 sen per ordinary share to be paid for the financial year of 2017, subject to shareholders’ approval.