IOI Corp sees better profit on higher CPO prices and improve output

KUALA LUMPUR: IOI Corp Bhd said higher palm oil selling prices boosted profits at its plantation division in the December quarter, mitigating the impact of a RM92mil fair value loss on derivative financial instruments suffered by its resource-based manufacturing business.

For second quarter ended Dec 31 (Q2FY2020), the group posted a 9.2% increase in net profit to RM213.mil compared with RM195.5mil made a year ago.