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NewsRimbunan Sawit 1Q profit at RM2m vs RM11 net loss a year earlier
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Rimbunan Sawit 1Q profit at RM2m vs RM11 net loss a year earlier
by Cals Tue 27 May 2014, 03:07
| Rimbunan Sawit 1Q profit at RM2m vs RM11 net loss a year earlier |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Monday, 26 May 2014 18:53 KUALA LUMPUR (May 26): Rimbunan Sawit Bhd reported a net profit of RM2.2 million in the first quarter ended March 31, 2014 from a net loss of RM11.2 million a year earlier. Profit growth came mainly on lower cost of sales as revenue fell. In a statement to the exchange today, Rimbunan Sawit said revenue fell to RM59.2 million from RM59.7 million. "The group recorded a pre-tax profit of RM3.9 million for the 3-month period ended 31 March 2014 as compared to a pre-tax loss of RM15.0 million in the preceding corresponding quarter. "The improvement in pre-tax results was mainly due to the increase in gross profit as a result of favorable CPO (crude palm oil) and PK (palm kernel) prices and also the drop in cost of sales during the current quarter compared to the preceding corresponding quarter," Rimbunan Sawit said. Rimbunan Sawit said said cost of sales fell on factors including cheaper fertiliser and lower field maintenance expenses. Revenue declined on less oil palm fresh fruit bunch output, hence, lower CPO and PK production. |
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