KUALA LUMPUR: Higher prices and production of palm oil products pushed Tradewinds PLANTATION []s Bhd's second quarter earnings 223% to RM90.08 million from RM27.84 million a year ago.
The company said on Thursday, Aug 18 revenue increased by 73.6% to RM335.79 million from RM193.44 million while earnings per share were 14.32 sen compared with 4.42 sen.
'The increase in revenue was mainly due to the increase in prices and production of palm products. In line with the increase in revenue, the Group recorded a three-fold increase in profit before tax to RM138.3 million for the current quarter from RM44.5 million for the same quarter last year,' it said.
For the first half ended June 30, net profit jumped 162.8% to RM138.71 million from RM52.78 million in the previous corresponding period while turnover was 50.1% higher at RM565.72 million compared with RM376.83 million.
"The increase in revenue was mainly due to the higher prices and production of palm products,' it said.
Tradewinds Plantations had borrowings totaling RM758.80 million as at June 30.
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The company said on Thursday, Aug 18 revenue increased by 73.6% to RM335.79 million from RM193.44 million while earnings per share were 14.32 sen compared with 4.42 sen.
'The increase in revenue was mainly due to the increase in prices and production of palm products. In line with the increase in revenue, the Group recorded a three-fold increase in profit before tax to RM138.3 million for the current quarter from RM44.5 million for the same quarter last year,' it said.
For the first half ended June 30, net profit jumped 162.8% to RM138.71 million from RM52.78 million in the previous corresponding period while turnover was 50.1% higher at RM565.72 million compared with RM376.83 million.
"The increase in revenue was mainly due to the higher prices and production of palm products,' it said.
Tradewinds Plantations had borrowings totaling RM758.80 million as at June 30.
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