Forex gain: KLK posted a year-on-year net profit growth of 6.6 to RM250.92mil for the first quarter ended Dec 31, boosted by a foreign currency exchange gain of RM38mil.
PETALING JAYA: Kuala Lumpur Kepong Bhd
(KLK) said the steep drop in the price of crude palm oil (CPO) at the end of last year resulted in a lower profit contribution from its core plantation business, but expects a rebound in prices to support its performance in the coming months.
KLK posted a year-on-year net profit growth of 6.6% to RM250.92mil for the first quarter ended Dec 31, boosted by a foreign currency exchange gain of RM38mil.
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