IOI Corp said that the higher contribution from the plantation segment in the financial year was partially offset by lower operational contributions from the resource-based manufacturing segment.
PETALING JAYA: After a severe bottomline contraction in the third quarter, IOI Corp Bhd
’s net profit in the final three months of its financial year 2020 leaped by over five times on stronger revenue and a much lower net translation loss on foreign currency-denominated borrowings.
The group said in a Bursa Malaysia stock filing that its net profit in the April-June 2020 period rose to RM238.3mil as compared to RM46.6mil a year earlier. This was mainly due to the higher contribution from its plantation segment.
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