By TMR

Hap Seng Plantations Holdings Bhd’s net profit improved by 2.2% year-on-year (YoY) to RM45.95 million in the fourth quarter (4Q) ended Dec 31, 2017, in line with the higher revenue achieved.

In an exchange filing yesterday, the plantation company noted its revenue grew by 27.5% YoY to RM163.88 million on higher sales volume of crude palm oil and palm kernel, which helped offset the lower average selling prices recognised.

The company declared a six sen dividend for the quarter, which will be paid on March 28 this year.