KLK earnings more than double in Q1

KLK said profits for its plantation division surged 83.3% to RM288.9mil in the first quarter of its current financial year, driven by improvements in crude palm oil (CPO) prices and palm kernel (PK) selling prices by 22.5% and 37.6%, respectively, on a year-on-year basis.

PETALING JAYA: Kuala Lumpur Kepong Bhd’s (KLK) net profit for its first quarter ended Dec 31,2020 more than doubled to RM357.41mil from RM167.20mil in the previous corresponding period.

This was mainly due to higher earnings from its plantation, manufacturing and property development divisions.