KLK earnings soar as palm oil surges

KUALA LUMPUR: Plantation firm Kuala Lumpur Kepong Bhd (KLK) net profit climbed to RM490mil in the second quarter ended March 31 as strong demand and tight supplies pushed up palm oil prices higher.

The company has declared an interim dividend payout of 20 sen a share.

KLK, in a filing with Bursa Malaysia today said that profits from its plantation business jumped 90% to RM278mil, while its manufacturing division contributed RM197mil.