PETALING JAYA: Chin Teck Plantations Bhd
has recorded a higher net profit of RM32.55mil for the first quarter ended Nov 30, 2024, compared with RM21.33mil in the same quarter a year ago.
In a filing with Bursa Malaysia, the oil palm producer said revenue was higher at RM73.15mil during the quarter, compared with RM63.19mil in the previous corresponding period.
The significant increases were on the back of average selling prices of fresh fruit bunches, crude palm oil prices and palm kernels despite lower sales volume.
It added other income was lower due to the decrease in unrealised gain on foreign exchange.
The group said a first interim single-tier dividend of eight sen per stock unit and a special single-tier dividend of seven sen per stock unit in respect of the financial year ending Aug 31, 2025, were declared on Nov 28, 2024 and had been paid on Dec 27, 2024.
