Hap Seng Consolidated net profit jumps 5-fold to RM661.9mil

KUALA LUMPUR: Hap Seng Consolidated Bhd is optimistic of achieving satisfactory results for the financial year ending Dec 31, 2023 (FY23).

Hap Seng said its trading division expects fertilizers prices to stabilise in the second half of the year, bolstered by a recovery in seasonal demand in Brazil, India and Southeast Asia. However, any escalation of geopolitical tensions in Eastern Europe may disrupt Russian and Belarussian exports and may trigger a price increase.