PETALING JAYA: Felda Global Venture Holdings Bhd's (FGV) lower first quarter (Q1) results were due to a combination of factors such as changes to its business model, lower crude palm oil prices for the period concerned and peak fertiliser costs.
Speaking to reporters at a luncheon held for the media, FGV group president Datuk Sabri Ahmad pointed out that his company's Q1 results ended March 31 should not have surprised anyone as the numbers and the reasons for the lower profits were all well-detailed in FGV's lenghty prospectus which was launched late last month.
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