Boustead Plantations records RM9.55m net loss in 1Q


BOUSTEAD Plantations Bhd’s net loss narrowed to RM9.55 million in the first quarter (1Q) ended March 31, 2020, from a net loss of RM16.2 million the year prior as revenue rose to RM162.69 million from RM134.91 million previously.

The higher revenue was attributed to improved palm products prices, the group said in an exchange filing yesterday.

It expects to record “some growth” in crop production with an improved operational efficiency this year, but warned the uncertainty of recovery from the Covid-19 pandemic may dampen progress.