Harn Len’s fourth-quarter net profit surged to RM22.5mil.
PETALING JAYA: Harn Len Corp Bhd
remains cautious and is actively formulating strategies to safeguard its business operations.
The plantation group said these include enhancing efficiency and implementing cost rationalisation measures to mitigate potential negative impacts.
Harn Len said crude palm oil (CPO) prices are currently hovering between RM3,900 and RM4,100 per tonne.
“A surge in soybean oil prices and high demand from India will help to support CPO prices, where the average CPO price for the year is forecast to remain above RM4,000 per tonne,” the company added.
In its fourth quarter ended May 31, Harn Len’s net profit surged to RM22.5mil, or earnings per share of 3.68 sen, from RM1.5mil or 0.27 sen, a year ago. This brought its full-year profit to RM33.4mil, or 5.75 sen. Quarterly revenue rose 39.3% to RM70.9mil from RM50.9mil, lifting full-year revenue to RM283.2mil.
It declared a special dividend of three sen per share for its financial year ended May 31.
