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NewsUpdate TSH 3Q profit jumps 409% yoy to RM83m on Pontian sale
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Update TSH 3Q profit jumps 409% yoy to RM83m on Pontian sale
by Cals Tue 19 Nov 2013, 21:37
| Update TSH 3Q profit jumps 409% yoy to RM83m on Pontian sale |
| Business & Markets 2013 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Tuesday, 19 November 2013 19:09 |
But revenue for 3Q fell to RM219.3 million from RM260.4 million in the preceding year.
“The increase in profit was attributed to the gain on disposal of investment securities in Pontian united Plantation Berhad, higher crop production and higher contribution from the share of profit in the jointly controlled entities,” the company said.
For the cumulative 9 months, profits rose to RM120.4 million from RM46.0 million in the preceding year corresponding period.
Cumulative revenue for the nine months fell to RM738.1 million from RM 766.8 million.
“The board remains optimistic on the long term prospect of the palm oil industry and will continue to focus on oil palm planting programme in Indonesia while also actively exploring expansion opportunities in Malaysia,” said the plantation company.
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