KUALA LUMPUR: Sarawak Oil Palms Bhd
’s net profit jumped to RM446.75 million in the financial year ended Dec 31, 2024 (FY2024) from RM300.87 million in the preceding year.
Revenue increased to RM5.31 billion from RM5.12 billion previously, driven by higher sales volume and improved realised selling prices during the year.
For the fourth quarter (4Q) of FY2024, net profit rose to RM139.81 million from RM114.03 million in 4Q FY2023, while revenue was flat at about RM1.47 billion.
On prospects, the company said the group’s performance would continue to be driven by the cyclical fresh fruit bunch (FFB) production, global edible oil price movement, and effect of supply chain on fertilisers, chemicals, and fuel prices, which will affect the costs of production.
"The group is taking effective steps to improve its production through better efficient management, including cost control and replanting programme.
"Notwithstanding this, the industry will continue to face challenges in view of global economic conditions and volatile commodity prices,” it added. - Bernama
