KUALA LUMPUR: KUALA LUMPUR KEPONG BHD []'s (KLK) earnings increased by 31.9% to RM432.76 million from RM243.54 million a year ago, boosted mainly by the PLANTATION []s sector.
It said on Tuesday, Aug 16 revenue rose at a stronger pace of 62% to RM2.95 billion from RM1.82 billion. Earnings per share were 40.64 sen compared with 22.87 sen.
'The pre-tax profit of the group for the 3QFY11 surged 78.0% to RM570.8 million compared to last year's same quarter. Plantations sector contributed substantially to the current quarter's increase in profit.
'Plantations profit soared 73.0% to RM454.4 million which was achieved through favourable commodity prices and higher fresh fruit bunches (FFB) production despite the increase in cost of production,' it said.
KLK said the manufacturing sector recorded a 68.3% improvement in profit to RM95.5 million underpinned by buoyant alcohol business performance of the oleochemical division. Retailing sector suffered a loss of RM7.8 million (3QFY2010: profit RM4.5 million).
It added 3QFY11's results had accounted for the surplus of RM43.4 million arising from the disposal of an associate, BCM.
For the nine-month period, its earnings were RM1.11 billion, up 58.3% from RM701.29 million while revenue climbed 41.4% to RM7.74 billion from RM5.47 billion.
KLK said despite the increase in production cost, plantations profit climbed 48.3% to RM1.148 billion on'' higher commodity prices.
'Profit from the manufacturing sector had improved more than two folds to RM251.2 million on the back of higher revenue. The solid results were fuelled by the steady performance of the oleochemical business.
Retailing sector brought in a lower profit of RM21.2 million (To-date 3QFY2010: profit RM36.7 million) caused by narrower margins and higher operating cost,' it said.
It said on Tuesday, Aug 16 revenue rose at a stronger pace of 62% to RM2.95 billion from RM1.82 billion. Earnings per share were 40.64 sen compared with 22.87 sen.
'The pre-tax profit of the group for the 3QFY11 surged 78.0% to RM570.8 million compared to last year's same quarter. Plantations sector contributed substantially to the current quarter's increase in profit.
'Plantations profit soared 73.0% to RM454.4 million which was achieved through favourable commodity prices and higher fresh fruit bunches (FFB) production despite the increase in cost of production,' it said.
KLK said the manufacturing sector recorded a 68.3% improvement in profit to RM95.5 million underpinned by buoyant alcohol business performance of the oleochemical division. Retailing sector suffered a loss of RM7.8 million (3QFY2010: profit RM4.5 million).
It added 3QFY11's results had accounted for the surplus of RM43.4 million arising from the disposal of an associate, BCM.
For the nine-month period, its earnings were RM1.11 billion, up 58.3% from RM701.29 million while revenue climbed 41.4% to RM7.74 billion from RM5.47 billion.
KLK said despite the increase in production cost, plantations profit climbed 48.3% to RM1.148 billion on'' higher commodity prices.
'Profit from the manufacturing sector had improved more than two folds to RM251.2 million on the back of higher revenue. The solid results were fuelled by the steady performance of the oleochemical business.
Retailing sector brought in a lower profit of RM21.2 million (To-date 3QFY2010: profit RM36.7 million) caused by narrower margins and higher operating cost,' it said.
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