Genting Plantations 1Q net profit surges 83%

KUALA LUMPUR: Genting Plantations Bhd’s net profit surged 83% to RM116.64mil in the first quarter March 31 against RM63.73mil in the same quarter a year ago.

Revenue, however, dipped marginally to RM530.43mil from RM536.58mil last year, due to lower sales volume for the downstream manufacturing segment, partly compensated by the plantation segment which recorded higher revenue on the back of stronger palm product prices.