Plantation, manufacturing segments weigh on Batu Kawan 2Q profit

KUALA LUMPUR: Batu Kawan Bhd’s net profit slid to RM120.05 million in the second quarter ended March 31, 2023 from RM316.54 million a year earlier, mainly due to lower profits from the manufacturing and plantation segments.

The group said its plantation profit fell 33.3 per cent to RM291.68 million, mainly due to lower crude palm oil (CPO) and palm kernel(PK) selling prices, higher CPO production costs, as well as a fair value loss of RM15.76 million on unharvested fresh fruit bunches valuation.