Rising CPO prices propel KL Kepong quarterly net profit higher

KUALA LUPUR: Plantation firm Kuala Lumpur Kepong Bhd more than doubled its earnings in the first quarter ended Dec 31, as higher selling prices of crude palm oil (CPO) and palm kernel offset the impact of lower output.

Net profit rose 114% to RM357.4mil from RM167.2mil a year ago. Revenue was RM4.3bil compared with RM4.08bil previously, the company said in a filing with BVursa Malaysia today.