FGV’s first half net earnings below expectations

As part of a package of incentives amounting close to RM1.6bil, some 77,934 Felda settlers, who are still paying for loans taken to subscribe for FGV shares during the listing exercise in 2012, will see their amounts outstanding being reduced significantly in a scheme whereby Felda matches their liabilities ringgit-for-ringgit, said an official close to the details.

PETALING JAYA: Felda Global Ventures Holdings Bhd’s (FGV) net profit in the first half to June 30 was below CIMB Research and Bloomberg consensus expectations at 6% of full-year forecasts, mainly due to losses at its sugar division.

“FGV’s results were below expectations as H1’17 core net profit of RM7mil accounted for just 6% of our full-year forecast and 5% of Bloomberg consensus.