Cepatwawasan 2Q net profit up nearly 50% to RM9.47m

Cepatwawasan said: "As CPO prices are expected to hover above RM3,000 during the remainder of this year, the group’s operating results, cash flow and financial condition for the current financial year ending 2021 are not expected to be significantly affected by the Covid-19 pandemic."

KUALA LUMPUR: Plantation-based Cepatwawasan Group Bhd’s net profit rose by 49.7% to RM9.47mil in the second quarter ended June 30, 2021 from RM4.76mil a year ago due to the record palm oil high prices.

In a filing with Bursa Malaysia on Wednesday, it said the higher earnings were mainly due to higher average selling price of crude palm oil (CPO) by 83% and higher average selling prices of palm kernel (PK), fresh fruit bunches (FFB) and empty fruit bunches (EFB) oil by about two-fold.