Batu Kawan Q2 net profit 16-fold higher

Batu Kawan said the Q2 plantation’s profit was significantly higher from crude palm oil (CPO) and palm kernel selling prices, profits from processing and trading operations, while earnings from manufacturing doubled due to bigger sales volume

KUALA LUMPUR: Batu Kawan Bhd’s net profit surged more than 16-fold to RM261.08mil in the second quarter (Q2) ended March 31,2021 compared with RM16.02mil in the corresponding period last year.

This positive result was underpinned by higher profits from all segments, coupled with unrealised foreign currency exchange translation gain and a RM154.60mil surplus from the sale of plantation land and government acquisition.