FGV Holdings Swings Back To Profit In 1Q On Stronger Plantation Performance
KUALA LUMPUR, May 28 (Bernama) -- FGV Holdings Bhd has returned to the black with a net profit of RM36.48 million for the first quarter ended March 31, 2025 (1Q 2025), compared with a net loss of RM13.50 million in 1Q 2024.
Revenue also improved by 11 per cent to RM5.04 billion against RM4.54 billion in the same quarter last year, driven by the stronger performance of the plantation division, it said in a filing with Bursa Malaysia today.
The company noted that the fresh fruit bunch (FFB) yield increased by six per cent while its FFB price rose by 24 per cent.
Looking ahead, it said CPO prices are expected to ease from the current level of RM4,700 per tonne to around RM4,000 per tonne in the coming months, as supply improves with favourable weather, seasonally higher cropping cycles, and the absence of festive-related demand.
FGV said it remains firmly focused on strengthening operational efficiency and optimising costs in line with its 2025 performance targets.
“In the near term, the group will continue enhancing yields, extracting greater value from existing assets and expanding its footprint in the domestic consumer market.
“Over the longer term, FGV is advancing portfolio diversification through high-value fast-moving consumer goods and international market penetration,” it said.
-- BERNAMA