Lower cost lifts CBIP engineering profit margin

KUALA LUMPUR: CB Industrial Products Holding Bhd (CBIP), a palm oil equipment maker, posted a higher profit in the last quarter as lower production cost increased margin at its engineering division.

For the three-month ended Dec 31, net profit rose to RM29.8mil from RM22.5mil a year earlier.

Revenue improved slightly to RM173.5mil from RM172.2mil previously.

CBIP has declared a second interim dividend payout of 2 sen a share.

"Considering the progress of the projects secured in hand and the current challenging environment, the Board is optimistic that the Group will be able to achieve satisfactory results mainly driven by the palm oil equipment and engineering segment for the financial year ending Dec 31, 2021," it said.

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