Higher CPO prices boost FGV’s Q3 net profit

CPO production decreased by 14% y-o-y to 0.74 million tonne in Q3 due to lower FFB processed.

KUALA LUMPUR: FGV Holdings Bhd’s net profit rose to RM399.39mil in the third quarter ended Sept 30, 2021 (Q3FY’21) from RM136.89mil in the same quarter last year, thanks to higher crude palm oil (CPO) prices averaging at RM3,798 per tonne.

The plantation group’s revenue surged to RM5.31bil during the quarter under review from RM3.99bil previously.