High CPO prices a boon for FGV

KUALA LUMPUR: FGV Holdings Bhd expects to perform satisfactorily in line with the projected favourable crude palm oil (CPO) price movement

Net profit rose to RM1.32bil in the financial year ended Dec 31, 2022 (FY22) from RM1.17bil in the previous year. The group attributed it to the higher average CPO prices and improved contribution from its logistics business.

Its revenue surged to RM25.56bil in FY22 compared with RM19.57bil previously, the plantation group said in a filing with Bursa Malaysia yesterday.Basic earnings per share stood at 36.26 sen, versus 32.01 sen previously.

The group has announced a final dividend payment of 11 sen per share, translating into a dividend payout of RM401.3mil.

It declared a total dividend payment of 15 sen per share for FY22.