KUALA LUMPUR: JM PLANTATION []s Bhd net profit for the first quarter ended June 30, 2011 rose 66% to RM49.47 million from RM29.89 million a year ago, due mainly to higher realised prices of both crude palm oil and palm kernel oil.
It said on Wednesday, Aug 24 that revenue for the quarter rose 8.9% to RM123.35 million from RM113.26 million. Earnings per share were 6.17 sen compared to 3.73 sen a year ago, while net assets per share was RM1.61.
Reviewing its performance, IJM Plantations said the higher profit in the quarter was due to higher sales volume. It said fresh fruit bunch production increased by 64.1%, resulting in a higher volume of CPO delivered to refineries.
'For the current financial year ending March 31, assuming the current palm product prices will sustain, the group expects a satisfactory level of profitability, barring unforeseen circumstances,' it said.
It said on Wednesday, Aug 24 that revenue for the quarter rose 8.9% to RM123.35 million from RM113.26 million. Earnings per share were 6.17 sen compared to 3.73 sen a year ago, while net assets per share was RM1.61.
Reviewing its performance, IJM Plantations said the higher profit in the quarter was due to higher sales volume. It said fresh fruit bunch production increased by 64.1%, resulting in a higher volume of CPO delivered to refineries.
'For the current financial year ending March 31, assuming the current palm product prices will sustain, the group expects a satisfactory level of profitability, barring unforeseen circumstances,' it said.
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