PETALING JAYA: Boustead Plantations Bhd has returned to black, with a net profit of RM17.97mil for the third quarter (Q3) ended Sept 30, compared with a net loss of RM34.31mil in the corresponding quarter last year.
The plantation company announced a first interim dividend of 0.50 sen per share.
During the quarter in review, Boustead Plantations’ revenue grew 47.7% to RM205.68mil from RM139.24mil in Q3’19.
This was due to improved prices of palm products.
For the nine-month period, the company’s net profit came in lower at RM14.5mil, compared with RM28.72mil previously, while its revenue rose 34.5% to RM535.43mil from RM398.1mil previously.
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