Kim Loong posts higher Q1 profit as palm oil prices soar

KUALA LUMPUR (Bernama) -- Kim Loong Resources Bhd's net profit rose to RM28.38 million in the first quarter of the financial year (FY) 2022 ended April 30, 2021 (Q1 2022), from RM22.90 million posted in the same quarter last year.

Revenue also surged 55% to RM312.45 million from RM201.36 million for the corresponding period last year, the oil palm plantation group said in a filing with Bursa Malaysia.