KLK plantation profit surges in Q1 on higher palm oil price

KL Kepong expects to replant 3,000ha to 4,000ha in Sabah and plans to plant about 1,000ha to 1,500ha in Liberia.

PETALING JAYA: Kuala Lumpur Kepong Bhd (KLK) reported a 54% surge in its plantation pre-tax profit to RM419.4mil, thanks to improved selling prices for crude palm oil (CPO) and palm kernel (PK) for its first quarter ended Dec 31, 2016 (Q1’17).

The plantation group’s Q1’17 total net profit amounted to RM360.68mil on the back of RM5.5bil in revenue.