Another excellent quarter anticipated for KLK

Following the Patmi upgrade, the research house said KLK remained its top large cap “buy” with a new target price of RM29.90 per share.However, the research unit has cut its absolute FY21-FY23 estimated fresh fruit bunches (FFB) output by 6%-8% on weaker output

PETALING JAYA: Kuala Lumpur Kepong Bhd’s (KLK) fourth quarter (Q4) outlook is set to emulate its stellar third quarter (Q3) results, buoyed by the current high crude palm oil (CPO) prices.

The company’s net profit had more than doubled in Q3 ended June 30, to RM783.94mil from RM368.7mil in the same corresponding period a year earlier. Its quarterly revenue rose 39.38% to RM5.17bil from RM3.71bil previously.