FGV affected by higher operating costs

TA Research had revised downward FGV’s earnings forecasts by 42.9% for financial year 2023 (FY23) and 41.8% in FY24.

PETALING JAYA: Dragged by higher operating costs, FGV Holdings Bhd’s dismal results for the first quarter of financial year 2023 (1Q23) came in mostly below market consensus, say analysts.

The diversified integrated agri-business group posted a core net loss of RM29.8mil in 1Q23, versus a core net profit of RM406.1mil in 4Q22 and RM427.6mil in 1Q22 respectively.