Genting Plantations records Q1 net profit of RM63.73mil

Genting Plantations said its fresh fruit bunches (FFB) production in the most recent quarter was 2% lower y-o-y, due to production setbacks in Malaysia and mainly due to the compounded lagged effects of droughts in early 2019 and early 2020.

PETALING JAYA: Genting Plantations Bhd reported a 30.2% year-on-year (y-o-y) decline in its first quarter ended March 31 net profit to RM63.73mil, while revenue for the quarter also fell y-o-y to RM536.58mil.

Basic earnings per share for the quarter was at 7.10 sen from 10.18 sen recorded in the same quarter a year ago.