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BUSINESS

Sarawak oil palms' Q1 net profit jumps to RM194 mln

23/05/2022 06:40 PM

KUALA LUMPUR, May 23 (Bernama) -- Sarawak Oil Palms Bhd’s net profit jumped to RM194.99 million in the first quarter ended March 31, 2022 (Q1FY22) from RM79.06 million in the same period a year earlier

Revenue for the quarter almost doubled to RM1.43 billion from RM788.32 million year-on-year.

In a filing with Bursa Malaysia today, the oil palm planter and miller said both increases in revenue and earnings were mainly attributed to higher average realised prices of palm oil products sold. 

It said its earnings per share also expanded to 34.09 sen in the first quarter of 2022 compared to 13.84 sen a year earlier.

Moving forward, Sarawak Oil Palms said its performance would continue to be driven by fresh fruit bunches production and palm products price movement.

-- BERNAMA


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