CBIP posts higher Q1 earnings on palm oil and engineering income 


KUALA LUMPUR: CB Industrial Product Holding Bhd (CBIP) posted a higher net profit in the first quarter, boosted by increased revenue from its palm oil plantations and improved margin at its equipment and engineering business.

Net profit in the three-ended March 31 surged 51% to RM18.6mil compared with RM12.3mil made a year ago.

Revenue increased 46% to RM157mil, CBIP said in a filing with Bursa Malaysia today.

"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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

CB Industrial Product

   

Next In Business News

RHB group exits asset management business in Indonesia
DNeX completes Silterra acquisition
Serba Dinamik nominates Nexia as new external auditor
Strong demand for handformers lifts ES Ceramics' revenue and profit
KLCI falls 10.91 points as regional markets slip
The path to net zero should be an integrated initiative
RAM: No credit concerns due to Edra Energy's delay in completing power plant
Gross fixed capital formation shrank 14.5% to RM281.1b
China shares tumble on regulatory clampdown; education firms selloff heavily
Oil falls US$1/bbl as coronavirus, floods threaten demand

Stories You'll Enjoy


Vouchers