KUALA LUMPUR: Kulim (Malaysia)
Bhd's earnings rose 48.8% to RM98.43mil in the second quarter ended June
30, 2014 from RM66.11mil a year ago, underpinned by the stronger
performance from its plantations sector.
It said on Monday the oil palm sector recorded higher profits in Q2, 2014 mainly due to higher of palm product prices and production of fresh fruit bunches (FFB) and crude palm oil (CPO) compared to a year ago.
Kulim's revenue increased by 3.2% to RM817.48mil from RM792.29mil. Earnings per share rose to 7.70 sen from 5.24 sen.
However, for the first half, its earnings fell 66.8% to RM136.56mil from RM411.26mil in the previous corresponding period. It explained this was due to profit from discontinued operation, net of tax totalling RM86.49mil in the second quarter of 2013 and RM425.78mil in H1, 2013.
Kulim's revenue increased by 9.3% to RM1.647bil from RM1.507bil. Its
profit before tax jumped 367.3% to RM308.82mil from RM66.08mil a year
ago.
On the FFB operations, it said Q2, 2014 production rose 9.56% to 196,629 tonnes compared to 179,466 tonnes a year ago. The group's cumulative FFB production for H1, 2014 rose 10.5% to 374,028 tonnes from 338,293 tonnes.
CPO production for Q2, 2014 rose 1.8% to 62,754 tonnes from 61,620 tonnes. For H1, 2014, CPO production rose 8.4% to 122,718 tonnes from 113,165 tonnes.
Kulim's oil extraction rate (OER) for H1, 2014 was at 20.74% compared to 20.32% a year ago.
Malaysian plantation operation achieved average CPO price of RM2,436 and palm kernel at RM1,936 per tonnes respectively for H1, 2014 versus RM2,392 and RM1,279 per tonne for CPO and PK respectively a year ago.
As for the New Britain Palm Oil Ltd (NBOL), the group produced 485,958 tonnes of FFB in Q2, 2014 which was 14.22% higher on-year. Together with crops purchased from outside the group, NBPOL Group processed 684,503 tonnes of FFB for Q2, 2014, which was 14.19% higher compared to a year ago.
It said on Monday the oil palm sector recorded higher profits in Q2, 2014 mainly due to higher of palm product prices and production of fresh fruit bunches (FFB) and crude palm oil (CPO) compared to a year ago.
Kulim's revenue increased by 3.2% to RM817.48mil from RM792.29mil. Earnings per share rose to 7.70 sen from 5.24 sen.
However, for the first half, its earnings fell 66.8% to RM136.56mil from RM411.26mil in the previous corresponding period. It explained this was due to profit from discontinued operation, net of tax totalling RM86.49mil in the second quarter of 2013 and RM425.78mil in H1, 2013.
On the FFB operations, it said Q2, 2014 production rose 9.56% to 196,629 tonnes compared to 179,466 tonnes a year ago. The group's cumulative FFB production for H1, 2014 rose 10.5% to 374,028 tonnes from 338,293 tonnes.
CPO production for Q2, 2014 rose 1.8% to 62,754 tonnes from 61,620 tonnes. For H1, 2014, CPO production rose 8.4% to 122,718 tonnes from 113,165 tonnes.
Kulim's oil extraction rate (OER) for H1, 2014 was at 20.74% compared to 20.32% a year ago.
Malaysian plantation operation achieved average CPO price of RM2,436 and palm kernel at RM1,936 per tonnes respectively for H1, 2014 versus RM2,392 and RM1,279 per tonne for CPO and PK respectively a year ago.
As for the New Britain Palm Oil Ltd (NBOL), the group produced 485,958 tonnes of FFB in Q2, 2014 which was 14.22% higher on-year. Together with crops purchased from outside the group, NBPOL Group processed 684,503 tonnes of FFB for Q2, 2014, which was 14.19% higher compared to a year ago.
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