KUALA LUMPUR: KIM LOONG RESOURCES BHD [] shares advanced on Tuesday, June 28 after its 1Q earnings rose 49% to RM19.91 million from RM13.36 million a year ago boosted by its PLANTATION []s business, underpinned by the strong crude palm oil (CPO) prices.
At 9.25am, Kim Loong added two sen to RM2.16 with 24,700 shares done.
Revenue rose 37.9% to RM175.15 million from RM127 million while earnings per share were 6.52 sen versus 4.39 sen a year ago. Pre-tax profit rose 68% to RM35.16 million from RM20.89 million.
'The 38% and 68% increases in revenue and PBT respectively were mainly due to higher CPO and palm kernel oil prices which were about 38% and 91% respectively higher than the corresponding period last year,' Kim Loong said on June 27.
At 9.25am, Kim Loong added two sen to RM2.16 with 24,700 shares done.
Revenue rose 37.9% to RM175.15 million from RM127 million while earnings per share were 6.52 sen versus 4.39 sen a year ago. Pre-tax profit rose 68% to RM35.16 million from RM20.89 million.
'The 38% and 68% increases in revenue and PBT respectively were mainly due to higher CPO and palm kernel oil prices which were about 38% and 91% respectively higher than the corresponding period last year,' Kim Loong said on June 27.
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