BATU KAWAN POSTS HIGHER NET PROFIT FOR Q3
KUALA LUMPUR, Aug 14 (Bernama) -- Batu Kawan Bhd’s net profit rose 23 per cent year-on-year (y-o-y) to RM190.26 million for the third quarter (Q3) ended June 30, 2018, despite a decline in revenue.
Revenue was down at RM4.47 billion compared with RM5.01 billion recorded in the same quarter in 2017, it said in a filing with Bursa Malaysia today.
Pre-tax profit for the plantations segment fell 43 per cent y-o-y to RM134.05 million but this was offset by better results of other segments, particularly manufacturing which saw a sharp rise in profit to RM120.12 million from RM19.21 million a year earlier.
On its prospects, Batu Kawan said plantations profit for the current year was expected to be lower due to the prevailing weak crude palm oil price.
The decline in plantations’ profit, however, would be mitigated by the higher contributions from oleochemical and from the chemicals division due to favourable selling prices, the company said.
Nonetheless, the group expected a lower profit overall for the current financial year, it added.
-- BERNAMA
SOR SOR MHFD
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