Boustead Plantations earnings up five-fold in Q3

Boustead Plantations noted that average crude palm oil (CPO) selling price for the third quarter of 2021 was up 56% year-on-year (y-o-y) to RM4,331 per tonne, while average palm kernel price jumped 72% y-o-y to RM2,541 per tonne.

PETALING JAYA: Boustead Plantations Bhd’s net profit jumped five-fold to RM95.56mil in the third quarter ended Sept 30, 2021, from RM17.97mil in the same period a year ago, thanks to higher palm product prices.

The group declared a third interim single-tier dividend of 1.75 sen per share. During the quarter in review, revenue rose to RM293.77mil from RM205.68mil in previously.