KUALA LUMPUR: Chin Teck Plantations Bhd
expects satisfactory plantation results for the financial year ending Aug 31, 2025 (FY25).
The plantation group said the current trend in average selling prices of crude palm oil (CPO) is expected to continue.
In the fourth quarter ended Aug 31, 2024 (4Q24), Chin Tek’s net profit jumped 64.3% year-on-year (YoY) to RM22.5mil against RM13.7mil last year on higher revenue. Earnings per share climbed to 24.66 sen compared with 15.01 sen previously.
Revenue rose 69.1% to RM83.8mil from RM49.5mil a year ago mainly due to significant increases in the sales volume and the average selling prices of fresh fruit bunches (FFB), CPO and palm kernel (PK).
Chin Teck said production and purchases of FFB were higher, resulting in an increase in the production of CPO and PK.
For FY24, it posted a higher net profit of RM87.3mil and revenue of RM264.8mil.
