KUALA LUMPUR: Genting PLANTATION []s Bhd, benefiting from the surge in crude palm oil (CPO) prices, reported its fourth quarter earnings rose 31.1% to RM102.76 million from RM78.35 million a year ago.
It said on Tuesday, Feb 22 that revenue increased by 23.3% to RM296.70 million in the quarter ended Dec 31, 2010 from RM240.56 million while earnings per share were 13.54 sen compared with 10.34 sen.
Genting Plantations declared a special dividend of three sen per share and proposed a final dividend of 5.5 sen per share.
For the financial year ended Dec 31, 2010, its earnings rose 37.5% to RM324.21 million from RM235.66 million while its revenue climbed 30.8% to RM988.58 million from RM755.56 million.
'The stronger results achieved in 2010 were principally due to higher palm products prices and a 3% year?on?year increase in fresh fruit bunches (FFB) production, as well as a gain on dilution of shareholdings,' it said.
Genting Plantations said the average CPO and palm kernel prices achieved by the group in 2010 were RM2,738 a tonne and RM1,754 a tonne respectively compared with RM2,236 and RM1,063.
'Contribution from the Group's property segment was also higher in 2010, with revenue and adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) up 10% and 49% respectively from the previous year due mainly to higher sales and completion of certain phases of ongoing projects,' it said.
As for the bioTECHNOLOGY [] segment, it recorded a higher loss in 2010 mainly because of higher operational expenses incurred and foreign exchange losses.
It said on Tuesday, Feb 22 that revenue increased by 23.3% to RM296.70 million in the quarter ended Dec 31, 2010 from RM240.56 million while earnings per share were 13.54 sen compared with 10.34 sen.
Genting Plantations declared a special dividend of three sen per share and proposed a final dividend of 5.5 sen per share.
For the financial year ended Dec 31, 2010, its earnings rose 37.5% to RM324.21 million from RM235.66 million while its revenue climbed 30.8% to RM988.58 million from RM755.56 million.
'The stronger results achieved in 2010 were principally due to higher palm products prices and a 3% year?on?year increase in fresh fruit bunches (FFB) production, as well as a gain on dilution of shareholdings,' it said.
Genting Plantations said the average CPO and palm kernel prices achieved by the group in 2010 were RM2,738 a tonne and RM1,754 a tonne respectively compared with RM2,236 and RM1,063.
'Contribution from the Group's property segment was also higher in 2010, with revenue and adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) up 10% and 49% respectively from the previous year due mainly to higher sales and completion of certain phases of ongoing projects,' it said.
As for the bioTECHNOLOGY [] segment, it recorded a higher loss in 2010 mainly because of higher operational expenses incurred and foreign exchange losses.
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