Wednesday, November 24, 2010

Sarawak Oil Palms 3Q earnings double to RM49.23m

KUALA LUMPUR: SARAWAK OIL PALMS BHD []'s earnings doubled to RM49.23 million in the third quarter ended Sept 30 from RM24.85 million a year ago, as it benefited from higher prices for crude palm oil and palm kernel.

It said on Wednesday, Nov 24 revenue was higher by 51% at RM213 million from RM140.91 million a year ago. Earnings per share were 11.46 sen compared with 6.49 sen.

For the nine months, net profit rose 55% to RM102.59 million from RM66.23 million while revenue was 28.8% higher at RM515.57 million from RM400.28 million.

Sarawak Oil Palms said the higher revenue in the nine-months was due to higher CPO and PK prices realized and higher volume of CPO and PK sold during the period.

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