BPLANT 5254 BOUSTEAD PLANTATIONS BERHAD 2Q profit up 51% on stronger palm oil prices, cautions about high costs in 2H
KUALA LUMPUR (Aug 23): Boustead Plantations Bhd's net profit grew 51% to RM73.22 million or 3.27 sen per share for the second quarter ended June 30, 2022 (2QFY22) from RM48.37 million or 2.16 sen per share a year ago thanks to higher palm oil prices.
The group declared a second interim dividend of 2.75 sen per share, with an ex-date of Sept 12.
Revenue for the quarter under review rose 44% to RM348.96 million for 2QFY22 from RM242.78 million last year, Boustead Plantations said in a stock exchange filing.
For the first half of this year (1HFY22), net profit jumped over eight times to RM508.38 million from just RM60.6 million in the previous corresponding period, on the back of 62% growth in revenue to RM673.11 million from RM414.72 million.
In 2HFY22, Boustead Plantations said palm oil prices are expected to sustain as the ongoing Ukraine-Russia conflict is likely to limit the supply of edible oils and poor weather conditions in Europe and America will contribute to further crop losses.
Nonetheless, the group expects production costs to be higher in 2HFY22 due to impact of minimum wages and increase in fertiliser and diesel prices.
“Despite the challenges, the group is positive on the outcome from the ongoing effort to manage cost efficiently through prudent spending and the crop improvement initiatives,” it said.
Shares of Boustead Plantations closed half sen or 0.6% lower at 79.5 sen per share, giving it a market capitalisation of RM1.78 billion.
http://www.theedgemarkets.com/article/boustead-plantations-2q-profit-51-stronger-palm-oil-prices-cautions-about-high-costs-2h
Singapore Investment
-
-
-
-
-
-
-
-
-
DBS Bank Singapore Stock Price12 hours ago
-
-
-
-
-
-
-
-
Finance Investment Movement 5521 hours ago
-
Net Worth Update Mar 20251 day ago
-
-
-
-
-
-
-
Mapletree Pan Asia Commercial Trust2 days ago
-
-
-
-
-
-
-
-
-
-
-
-
Legoland 20255 days ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Where Do The Rich Keep Their Money?1 week ago
-
Why do I top up my ASM3?2 weeks ago
-
-
-
-
Another one bites the dust2 weeks ago
-
-
Feb 2025 Portfolio2 weeks ago
-
Portfolio (Feb 28, 2025)2 weeks ago
-
Portfolio (Feb 28, 2025)2 weeks ago
-
Portfolio -- Feb 20252 weeks ago
-
Feb 2025 Updates2 weeks ago
-
-
-
Trading Journal As Of 21 Feb 20252 weeks ago
-
-
-
-
-
-
-
-
The Ultimate SG-JB Geo Arbitrage: Petrol4 weeks ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
ETF vs Mutual Fund: Which is Better?1 month ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Arigato Everyone! A Decade of Blogging!2 months ago
-
Top 10 Highlights of 20242 months ago
-
Why do I question about life?2 months ago
-
-
-
-
Reflections for year 20243 months ago
-
My Palantir Regret3 months ago
-
2023 Trading Recap – $11,000 in profit!3 months ago
-
-
-
Union Square Residences4 months ago
-
-
-
China boom?5 months ago
-
-
STI ETF5 months ago
-
-
-
Unibet Casino Bonus Codes 20246 months ago
-
-
-
-
-
-
-
Monthly IBKR Update – June 20248 months ago
-
-
-
-
-
-
-
Breakthroughs in portfolio :)9 months ago
-
-
-
Feb 2024 Expenditure11 months ago
-
-
-
-
-
-
-
Monthly Summary of November 20231 year ago
-
Migration of website1 year ago
-
-
-
-
-
-
-
-
-
-
A New Light1 year ago
-
-
-
-
-
-
2022 Thoughts, Hello 2023!2 years ago
-
Series of Defaults for Maple Finance2 years ago
-
Takeaways from “Sea Change”2 years ago
-
Greed is Coming Back2 years ago
-
-
-
-
-
-
-
-
What is Overemployment2 years ago
-
Terra Hill Condo (former Flynn Park)2 years ago
-
Alibaba VS Tencent: The Battle Royale2 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Home
BPLANT
qr
BPLANT 5254 BOUSTEAD PLANTATIONS BERHAD 2Q profit up 51% on stronger palm oil prices, cautions about high costs in 2H