KUALA LUMPUR: Johor Plantations Group Bhd (JPG) recorded a higher net profit of RM257.32 million for the financial year ended Dec 31, 2024 (FY2024), up from RM167.31 million a year ago.
Revenue improved to RM1.52 billion from RM1.25 billion previously, the company said in a filing with Bursa Malaysia today.
The group said this was driven by a 21.7 per cent rise in revenue year-on-year (y-o-y) in FY2024, growing to RM1.5 billion from RM1.3 billion in FY2023.
"The group’s strong performance for FY2024 reflects both operational excellence and an optimal business strategy.
"JPG recorded a 9.3 per cent y-o-y increase in fresh fruit bunches production to 1.1 million tonnes and yield improvement to 22.4 tonnes per hectare in FY2024,” it said.
For the fourth quarter (4Q) of FY2024, the company posted a higher net profit of RM80.51 million, compared to RM62.97 million in the same period of FY2023.
Revenue also increased to RM464.93 million in 4Q FY2024, up from RM392.27 million in 4Q FY2023, mainly due to higher revenue from crude palm oil and palm kernel.
The company’s board has declared a third interim dividend of 2.75 sen per share for the quarter, bringing the total dividend for the year to 5.25 sen per share.
JPG said the group remains committed to producing high-quality sustainable products while continuing to drive operational efficiency by improving yield, oil extraction rates, and plant efficiency, as well as accelerating its mechanisation and digitalisation efforts.
Barring any unforeseen circumstances, the group expects its performance in 2025 to be satisfactory.
Meanwhile, its managing director, Mohd Faris Adli Shukery, said JPG is on track to reach milestones in its growth journey, expanding income streams beyond purely upstream plantations.
"This year, we remain steadfast in our commitment to delivering results. We will continue to pursue excellence at every level, enhancing our core capabilities while positioning ourselves for sustainable growth and seizing new opportunities,” he added. - Bernama
