Genting Plantations quarterly net profit up 39%

The company told Bursa Malaysia yesterday that revenue for the current quarter improved year-on-year (y-o-y), mainly due to higher fresh fruit bunch (FFB) production from Indonesia, apart from the higher sales of refined palm products.

PETALING JAYA: Genting Plantations Bhd (GENP) registered a 39% growth in net profit to RM100.98mil for the first quarter ended March 31, compared with the corresponding quarter last year.

It reported a 32% year-on-year increase in revenue to RM529.07mil, attributable to higher refinery business and completion of property projects.