KLK records RM784mil net profit in Q3

KLK said its plantation segment registered a higher profit, driven by higher crude palm oil (CPO) and palm kernel (PK) selling prices in Q3 of FY21. CPO prices rose 53.8% y-o-y, while PK prices surged 81.4% y-o-y.

PETALING JAYA: Stronger commodity prices, bolstered by a sharp jump in oleochemical manufacturing and property development revenues, lifted Kuala Lumpur Kepong Bhd’s (KLK) net profit by more than double in the third quarter (Q3) ended June 30.

A fair value surplus of RM324.3mil derived from the deemed disposal of an associate, Aura Muhibah Sdn Bhd, also helped KLK to achieve the strongest quarterly net profit in 22 quarters.