KLK expects lower plantation profits

The group said notwithstanding the price discount to soybean oil, palm oil prices have eased considerably from the historically high levels seen recently, leading KLK to expect its financial performance for FY23 to be subdued compared with FY22.

PETALING JAYA: Kuala Lumpur Kepong Bhd (KLK) expects lower prices to lead to softer profits from its plantation segment for its financial year ending Sept 30, 2023 (FY23).

In a filing with Bursa Malaysia, the group said notwithstanding the price discount to soybean oil, palm oil prices have eased considerably from the historically high levels seen recently, leading KLK to expect its financial performance for FY23 to be subdued compared with FY22.