IOI Corp sees improvement in quarterly net profit on firmer CPO prices

IOI has also taken a number of steps to improve sustainability practices, including obtaining third-party verification on its progress towards implementing sustainable policies.

PETALING JAYA: IOI Corp Bhd, which reported a weaker set of financial results for the second quarter ended Dec 31, expects a slight improvement in the third quarter, underpinned by firmer crude palm oil (CPO) prices and a decline in palm oil stocks.

Its net profit in the second quarter fell 68% to RM196mil from RM596mil a year ago due to lower operating profit and a net foreign currency translation loss on foreign currency-denominated borrowings and deposits.