United Plantations sees lower profit in 2019 on weak CPO prices

Malaysian palm oil futures dropped from an eight-week high on Thursday, falling as much as 1.4 percent in the second half of trade, weighed down by weaker soyoil on the U.S. Chicago Board of Trade (CBOT) and profit taking.

KUALA LUMPUR: United Plantations Bhd warned that its financial performance in 2019 will be lower than 2018 due to weaker palm oil prices.

The company, in a filing with Bursa Malaysia today, said net profit in the first quarter ended March 31 fell by about a third to RM66.9mil from RM100mil a year ago,