PETALING JAYA: TH Plantations Bhd posted a net profit of RM21.5mil for its third quarter ended Sept 30 (3Q24), representing 22.7% year-on-year (y-o-y) growth compared to the same period last year.
This was achieved on the back of a revenue increase of 16.3% y-o-y to RM252mil.
For the nine months ended Sept 30, the group saw net earnings climb 31% y-o-y to RM45mil, as turnover increased 13.4% to RM607.3mil.
TH Plantations said the strong year-to-September and 3Q24 results were primarily driven by higher revenue from increased sales volume and improved average realised prices for crude palm oil and palm kernel.
In addition, it said fresh fruit bunch (FFB)production increased by 10.3% from 539,123 tonnes to 594,416 tonnes during the nine months, contributed from young mature areas and better crop trend especially from Peninsular Malaysia, as FFB yield per ha also improved by 11.3%.
