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Kim Loong earnings almost doubled
by hlk Fri 23 Dec 2011, 20:51
Kim Loong Resources Bhd's pre-tax profit increased to RM40.3 million in the third quarter ended Oct 31 2011 from RM27.78
million in the same quarter last year.
Revenue rose to RM188.33 million from RM141.37 million previously.
For the nine-month period, Kim Long's pre-tax profit jumped 91 per cent to RM129.34 million from RM67.77 million, while revenue was 45 per cent higher at RM591 million from RM407.4 million previously.
The increases were mainly due to higher production as well as the higher crude palm oil and palm kernel oil prices which were about 25 per cent and 40 per cent respectively higher than the corresponding period last year.
In a filing to Bursa Malaysia today, Kim Long said for the financial year ending Jan 31, 2012, the group expected both milling and plantation operations to perform well.
This was on the back of good palm oil prices and higher production as compared to the financial year 2011, it added. -- BERNAMA
million in the same quarter last year.
Revenue rose to RM188.33 million from RM141.37 million previously.
For the nine-month period, Kim Long's pre-tax profit jumped 91 per cent to RM129.34 million from RM67.77 million, while revenue was 45 per cent higher at RM591 million from RM407.4 million previously.
The increases were mainly due to higher production as well as the higher crude palm oil and palm kernel oil prices which were about 25 per cent and 40 per cent respectively higher than the corresponding period last year.
In a filing to Bursa Malaysia today, Kim Long said for the financial year ending Jan 31, 2012, the group expected both milling and plantation operations to perform well.
This was on the back of good palm oil prices and higher production as compared to the financial year 2011, it added. -- BERNAMA
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