PETALING JAYA: TH Plantations Bhd’s (THP) earnings shortfall for the financial year 2024 (FY24) was dragged by lower-than-expected crude palm oil (CPO) average selling prices (ASP) achieved and slowing of fresh fruit bunch (FFB) output.
Maybank Investment Bank (Maybank IB) Research, in a report, has cut the planter’s FY25 and FY26 core profit after tax and minority interest (Patmi) forecasts by 14% and 20%, respectively, on slightly lower CPO ASPs and higher unit cost to account for higher-than-expected minimum wage cost guidance.
