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TSH 1Q profit soars 162% y-o-y to RM52m

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TSH 1Q profit soars 162% y-o-y to RM52m Empty TSH 1Q profit soars 162% y-o-y to RM52m

Post by Cals Fri 23 May 2014, 00:14

TSH 1Q profit soars 162% y-o-y to RM52m
Business & Markets 2014
Written by Chong Jin Hun of theedgemalaysia.com   
Thursday, 22 May 2014 13:16

KUALA LUMPUR (May 22): Plantation firm TSH Resources Bhd's net profit soared 162% to RM52.2 million in the first quarter ended March 31, 2014 from RM19.9 million a year earlier. Revenue rose to RM287.1 million from RM280.6 million.

In a statement to the exchange today, TSH said profit growth came on higher oil palm fresh fruit bunch output, and crude palm oil (CPO) prices.  Lower production cost, and foreign exchange gain also supported bottom line growth.

"The significantly improved performance was attributed to the high crop production, higher CPO price coupled with unrealised exchange gain arising from the strengthening of RM and Rupiah against the USD.

"The board remains optimistic on the long-term prospect of the palm oil industry and will continue to focus on oil palm-planting programme in Indonesia while also expanding its plantation land in Malaysia," TSH said.
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