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NewsUpdate Far East 1Q profit rises 52% on higher oil palm output, CPO prices
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Update Far East 1Q profit rises 52% on higher oil palm output, CPO prices
by Cals Thu 08 May 2014, 19:27
| Update Far East 1Q profit rises 52% on higher oil palm output, CPO prices |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Thursday, 08 May 2014 18:03 |
KUALA LUMPUR (May 8 ): Far East Holdings Bhd's net profit rose 52% to RM20.7 million in the first quarter ended March 31, 2014 from RM13.6 million a year earlier. Revenue was higher at RM105.5 million versus RM93.2 million.
In a statement to the exchange today, Far East said profit and revenue had risen on higher crude palm oil and kernel prices as oil palm fresh fruit bunch output increased.
"The group is expected to achieve favourable result in view of the sustainable crude palm oil price," Far East said.
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