PETALING JAYA: Johor Plantations Group Bhd
remains confident on its outlook despite short-term pressures on crude palm oil (CPO) prices.
The group’s profit after tax (PAT) rose 52% year-on-year (y-o-y) to RM75.27mil for the first quarter ended March 31, up from RM49.53mil in the corresponding quarter last year.
The increase in profit was driven by higher CPO and palm kernel (PK) prices.
Quarterly revenue grew 15.4% y-o-y to RM340.43mil, while earnings per share rose to 3.04 sen from 2.45 sen a year ago.
The group reported that its average CPO selling price stood at RM4,969 per tonne, a premium of RM236 per tonne over Malaysia Palm Oil Board’s (MPOB) average price.
PK also commanded a premium, with an average price of RM3,898 per tonne – RM269 above the MPOB’s reference price, it added.
Given the elevated stock levels and the gradual recovery in demand, Johor Plantations remains cautiously optimistic about its operational plans and production discipline to sustain a resilient performance.
“While CPO prices may continue to face near-term pressure amid broader global uncertainties, the group maintains a prudent outlook and is strategically positioned to capture value as market fundamentals strengthen in the quarters ahead,” it added.
The board has declared an interim dividend of one sen per share for the quarter, payable on June 24.
Johor Plantations reaffirmed its commitment to maintaining a minimum annual dividend payout of 50% of net profits.
“Our focus remains on delivering long-term, sustainable growth through operational excellence, innovation, and value creation for all stakeholders,” said its managing director Mohd Faris Adli Shukery in a statement.
