Published:
Monday May 26, 2014 MYT 6:38:00 PM
Updated: Monday May 26, 2014 MYT 6:43:44 PM
Updated: Monday May 26, 2014 MYT 6:43:44 PM
KUALA LUMPUR: Plantations-based Kulim (Malaysia) Bhd's
profit from continuing operations surged 171% to RM66.71mil from
RM24.60mil a year ago due to higher production and prices for crude palm
oil (CPO).
It said on Monday, its profit before tax increased by 178% to RM90.62mil compared RM32.62mil a year ago. Kulim's revenue rose 16% to RM829.67mil from RM714.82mil.
However, its earnings were RM38.13mil compared with RM345.15mil a year ago when there was profit from discontinued operations net of tax of RM339.3mil. Earnings per share were 2.98 sen.
On its Malaysian plantations operations, it said the group's fresh fruit bunches (FFB) production for Q1, 2014 rose 11.5% to 177,399 tonnes from 159,059 tonnes a year ago.
"The group's cumulative CPO production for the first quarter 2014 was
at 59,964 tonnes. This was 16.33% higher compared to the CPO production
for the corresponding period in 2013 of 51,545 tonnes," it said.
Kulim said the total FFB processed by the group's mills in Q1 2014 rose 13.6% to 287,569 tonnes from 253,091 tonnes. Total FFB processed included crops purchased from outside the group.
"The group's oil extraction rate for the first quarter 2014 was marginally higher at 20.85% compared to 20.37% for the corresponding period 2013," it said.
Kulim said its Malaysian plantation operation achieved average crude palm oil (CPO) price of RM2,585 and palm kernel at RM1,756 per tonne in Q1 2014 versus RM2,475 and RM1,184 per tonne for CPO and PK respectively a year ago.
Its plantation operations in Papua New Guinea and Solomon Island under the NBPOL Group produced 455,988 tonnes of FFB in Q1, 2014, up 12.5% on-year.
Together with crops purchased from outside the group, NBPOL Group processed 618,880 tonnes of FFB in Q1, 2014, up 10.3% from a year ago.
NBPOL Group's cumulative CPO production for Q1, 2014 rose 12.5% to 137,031 tonnes from 121,758 tonnes a year ago.
"NBPOL Group's oil extraction rate for Q1, 2014 was at 22.14% compared to the corresponding period in 2013 of 21.7%," it said.
It said on Monday, its profit before tax increased by 178% to RM90.62mil compared RM32.62mil a year ago. Kulim's revenue rose 16% to RM829.67mil from RM714.82mil.
However, its earnings were RM38.13mil compared with RM345.15mil a year ago when there was profit from discontinued operations net of tax of RM339.3mil. Earnings per share were 2.98 sen.
On its Malaysian plantations operations, it said the group's fresh fruit bunches (FFB) production for Q1, 2014 rose 11.5% to 177,399 tonnes from 159,059 tonnes a year ago.
Kulim said the total FFB processed by the group's mills in Q1 2014 rose 13.6% to 287,569 tonnes from 253,091 tonnes. Total FFB processed included crops purchased from outside the group.
"The group's oil extraction rate for the first quarter 2014 was marginally higher at 20.85% compared to 20.37% for the corresponding period 2013," it said.
Kulim said its Malaysian plantation operation achieved average crude palm oil (CPO) price of RM2,585 and palm kernel at RM1,756 per tonne in Q1 2014 versus RM2,475 and RM1,184 per tonne for CPO and PK respectively a year ago.
Its plantation operations in Papua New Guinea and Solomon Island under the NBPOL Group produced 455,988 tonnes of FFB in Q1, 2014, up 12.5% on-year.
Together with crops purchased from outside the group, NBPOL Group processed 618,880 tonnes of FFB in Q1, 2014, up 10.3% from a year ago.
NBPOL Group's cumulative CPO production for Q1, 2014 rose 12.5% to 137,031 tonnes from 121,758 tonnes a year ago.
"NBPOL Group's oil extraction rate for Q1, 2014 was at 22.14% compared to the corresponding period in 2013 of 21.7%," it said.
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