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Malaysia's palm oil giant FGV swings to profit in Q1 earnings

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KUALA LUMPUR : Malaysian palm oil planter FGV Holdings reported on Tuesday it swung to a profit in the first quarter, helped by higher crude palm oil prices and improved sales volume. Net profit during the January-March period rose to 369.2 million ringgit, compared to a loss of 35.4 million ringgit ($8.

KUALA LUMPUR : Malaysian palm oil planter FGV Holdings reported on Tuesday it swung to a profit in the first quarter, helped by higher crude palm oil prices and improved sales volume.

"With the group continuing to focus on its core businesses, the board is confident that the elevated crude palm oil price will have a positive impact on the group's financial result for 2022," the firm said in a bourse filing.

 

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