KUALA LUMPUR: United Malacca Bhd’s net profit climbed to RM20.85mil in the first quarter ended July 31, 2021 (Q1FY2021) from RM3.55mil a year before amid higher crude palm oil (CPO) price.
Revenue rose to RM114.87mil from RM86.79mil previously.
In a filing with Bursa Malaysia, United Malacca said during the current quarter, the Malaysian operations recorded a plantation profit of RM24.1mil, which was 315% stronger than RM5.8mil in the corresponding quarter of the preceding year.
It pointed out that CPO price was bullish, averaging at RM3,776 per tonne in the quarter from RM2,328 per tonne previously while palm kernel price was at RM2,542 per tonne during the quarter from RM1,334 per tonne in the same quarter last year. — Bernama