Friday, May 20, 2011

Tradewinds Plantation up after 1Q net profit surges 95% to RM48.63m

KUALA KUMPUR: Tradewinds PLANTATION [] Bhd shares advanced on Friday, May 20 after its net profit for the first quarter ended March 31, 2011 surged 95% to RM48.63 million from RM24.94 million a year earlier due mainly to increase in prices of palm products.

At 9.45am, Tradewinds Plantation was up 16 sen to RM3.98 with 1.11 million shares done.

Revenue rose to RM229.93 million from RM183.39 million last year. Earnings per share was 7.73 sen while net assets per share was RM2.97.

Reviewing its performance on Thursday, May 19, Tradewinds Plantation said that based on prevailing prices of palm products and the forecast increase in production in the coming quarters, the company expects its results to be better than the period under review.


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