United Plantations Q2 profit rises, but labour shortage clouds outlook

KUALA LUMPUR (Bernama) -- United Plantations Bhd's (UP) net profit advanced to RM135.78 million in the second quarter (Q2) ended June 30, 2021 from RM123.59 million in the same period last year.

Revenue also improved to RM481.86 million from RM294.32 million previously, the oil palm and coconut plantation group said in a filing with Bursa Malaysia today.

For the six-month period ended June 30, 2021, UP saw its net profit grew to RM210.61 million from RM204.78 million from the corresponding period last financial year mainly due to 18.3% and 58.3% increase in revenue from the plantation and refinery segments respectively.