Sime Darby Plantation's 1Q net profit lifted to RM718mil on higher CPO, PK prices


KUALA LUMPUR: Higher crude palm oil (CPO) and palm kernel (PK) prices helped lift Sime Darby Plantation Bhd's net profit in the first quarter ended March 31, 2022, to RM718mil, a 27.76% increase over RM562mil in 1Q21.

The plantations group said revenue rose 19% year-on-year (y-o-y) to RM4.38bil as the higher prices offset the negative impact resulting from a prolonged labour shortage in the Malaysian palm oil industry and normalisation in Indonesian fresh fruit bunch (FFB) production.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 48
Cxense type: NA
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Brent falls as recession fears deepen demand concerns
Yum Brands close to selling KFC business in Russia
MMAG to dispose of Shah Alam land for RM20mil
CEKD to buy 82% stake in Worldwide Die Cutting Mould for RM6.23mil
Boardroom changes in KYM
Property demand to remain despite anticipated OPR increase
Ringgit ends lower against US dollar
Ekovest secures RM1.979bil RTS Link Project
Proton unveils new hi-tech engine assembly line in Tanjung Malim
RHB enhances API-driven digital platform for SMEs

Others Also Read