INVESTMENT
Saturday, 23 Dec 2017
KUALA LUMPUR: Kim Loong Resources Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png’s pre-tax profit rose to RM43.86mil in the third quarter ended Oct 31, 2017 from RM37.33mil in the same quarter last year.
Revenue increased to RM289.42mil from the RM248.1mil achieved previously, the plantation group said in a filing with Bursa Malaysia.
For the nine-month period, pre-tax profit advanced to RM128.81mil in the quarter under review from RM81.97mil, while revenue surged to RM805.53mil from RM636.6mil previously.
The group said the better financial performance was contributed by higher palm oil prices and production, particularly from estates in Keningau which had shown a significant increase over last year.
In 2016, the low production was likely caused by the El Nino phenomenon.
On its prospects, the group said fresh fruit bunches (FFB) production would potentially be 30% higher compared to the quantity achieved in the financial year 2017.
This is in view of an increase in FFB production from young mature areas and strong FFB yield recovery in the Keningau region. — Bernama
Read more at https://www.thestar.com.my/business/business-news/2017/12/23/kim-loong-posts-higher-pretax-profit-in-third-quarter/#fAqfttEISGBh84rW.99
