KLK delivers robust 3Q financial performance

KLK said profits from its plantation segment will sustain despite CPO and PK prices easing following an increase of 41% and 40.9% to RM4,857 and RM3,364 per tonne respectively in 3Q of FY22.

PETALING JAYA: Kuala Lumpur Kepong Bhd (KLK) expects weaker palm oil prices, supply chain disruptions and inflationary pressures from higher priced fuels, fertilisers and agrochemicals to impact its plantation and manufacturing segments in the fourth quarter (4Q) after posting strong 3Q financial results.

KLK’s revenue for 3Q ended June 30, 2022 rose to RM6.96bil from RM5.17bil in 3Q of financial year 2021 (FY21) on higher contribution from its plantation business which enjoyed higher prices for its crude palm oil (CPO) and palm kernel (PK) oil.