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Rimbunan Sawit 3Q profit falls 11% yoy to 11m

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Rimbunan Sawit 3Q profit falls 11% yoy to 11m Empty Rimbunan Sawit 3Q profit falls 11% yoy to 11m

Post by Cals Wed 20 Nov 2013, 22:32

Rimbunan Sawit 3Q profit falls 11% yoy to 11m
Business & Markets 2013
Written by Jonathan Gan of theedgemalaysia.com   
Wednesday, 20 November 2013 19:16
KUALA LUMPUR (Nov 20): Rimbunan Sawit Berhad reported lower profits in its financial results for the third quarter ended Sep 30, 2013.

Profit for the third quarter fell about 11% to RM11.1 million, from RM12.4 million a year ago.

Revenue for the quarter also fell to RM82 million from RM94.4 million.

Reviewing its third quarter results, the group attributed the fall in revenue to the decrease in average selling prices for crude palm oil and palm kernel.

For the nine months cumulative period, the plantation firm posted losses of RM13.3 million compared to net profit RM 21.9 million a year ago.

Revenue declined to RM 203.7 million from RM 253.9 million.

“Notwithstanding the volatility of the commodity prices, the directors are in the opinion that the market ahead is still challenging but expect the prices to be stabilised,” the company said in its filing with Bursa Malaysia.
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