Kuala Lumpur Kepong Q1 earnings more than double as all segments perform well

  • 📰 theSundaily
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

PETALING JAYA: Kuala Lumpur Kepong (KLK) Bhd posted a net profit of RM357.4 million for its first quarter ended Dec 31, 113.8% higher from RM167.2 mil...

Kuala Lumpur Kepong Bhd posted a net profit of RM357.4 million for its first quarter ended Dec 31, 113.8% higher from RM167.2 million a year before on higher profit contributions from all operating segments.Segmentally, plantation profit surged 83.3% to RM288.9 million from RM157.7 million, driven by an improvement in crude palm oil and palm kernel selling prices, and better contributions from processing and trading operations.

Its property division’s profit rose 62.2% to RM22 million due to recognition of profit from projects with better margins, while its investment holdings segment saw a substantial rise in profit to RM47.1 million from RM8.1 million, underpinned by improved yields and higher cropped area. Looking ahead, KLK said it expects plantation profit will improve in FY2021 in view of current buoyant CPO and PK prices.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kuala Lumpur wholesale market closing for 3rd time, 170 Covid-19 cases reported | The Malaysian InsightKuala Lumpur wholesale market closing for 3rd time, 170 Covid-19 cases reported
Source: msianinsight - 🏆 8. / 63 Read more »