BUSINESS

SARAWAK OIL PALMS POSTS RM94.55 MLN 3Q NET PROFIT ON HIGHER FFB PRODUCTION, SALES

29/11/2023 06:27 PM

KUALA LUMPUR, Nov 29 (Bernama) -- Sarawak Oil Palms Bhd’s net profit rose to RM94.55 million in the third quarter ended Sept 30, 2023 (3Q 2023), from RM82.34 million in the same quarter last year, lifted by higher fresh fruit bunches (FFB) production and sales volume.

In a filing with Bursa Malaysia, the group said its revenue decreased to RM1.27 billion in 3Q 2023 from RM1.32 billion previously.

For the nine months of 2023 (9M23), Sarawak Oil Palms posted lower net profit of RM186.84 million against RM431.79 million in the same period of 2022, while revenue decreased to RM3.66 billion against RM4.16 billion previously.

“The performance of the group would continue to be driven by the cyclical FFB production, global world edible oil price movement, effect of supply chain on fertilisers, chemicals and fuel prices which will affect the costs of production,” it said.

Sarawak Oil Palms said it is taking effective steps to improve its production through aggressive recovery programmes, including cost control and replanting programmes.

However, the industry will continue to face challenges in view of global economic conditions and the softening of commodity prices, it added.

-- BERNAMA


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy