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MHC Plantation pre-tax profit almost halves (5026)
by hlk Thu 26 Jul 2012, 22:42
MHC Plantations Bhd's pre-tax profit for the second quarter ended June 30, 2012 plummeted to RM5.315 million from
RM10.226 million posted in the same period last year.
Its revenue eased to RM7.129 million from RM8.712 million.
The company said the pre-tax profit slid for the current quarter
was a result of lower fresh fruit bunches' (FFB) prices, poor yield and
lesser contributions from associated companies as compared
Associated companies' lower contribution was mainly due to poor FFB prices and yield, resulting from "stressed" oil palm trees.
"However, the board is still confident that the group's prospects
are still satisfactory in view of favourable palm oil prices and strong
demand," the company said in a filing to Bursa Malaysia. -- BERNAMA
RM10.226 million posted in the same period last year.
Its revenue eased to RM7.129 million from RM8.712 million.
The company said the pre-tax profit slid for the current quarter
was a result of lower fresh fruit bunches' (FFB) prices, poor yield and
lesser contributions from associated companies as compared
Associated companies' lower contribution was mainly due to poor FFB prices and yield, resulting from "stressed" oil palm trees.
"However, the board is still confident that the group's prospects
are still satisfactory in view of favourable palm oil prices and strong
demand," the company said in a filing to Bursa Malaysia. -- BERNAMA
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