PETALING JAYA: Sarawak Oil Palms Bhd
says its performance will continue to be driven by the cyclical fresh fruit bunch (FFB) production, global world edible oil price movement, effect of supply chain on fertilisers, chemicals and fuel prices which will affect the cost of production
For the third quarter ended Sept 30, 2024 (3Q24), the plantation group’s net profit was up by nearly 30% year-on-year (y-o-y) to RM121.8mil, or earnings per share of 13.66 sen. The improved performance was attributed to the increase in FFB production and lower production costs compared to 3Q23.
The group’s revenue for 3Q24 increased by 9% y-o-y to RM1.4bil from RM1.3bil in 3Q23.
Looking ahead, Sarawak Oil Palms said it is taking effective steps to improve its production through aggressive recovery programmes, including cost control and replanting programmes.
Sarawak Oil Palms declared a special second interim single-tier dividend of seven sen per share.
