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NewsRimbunan Sawit 3Q net profit slumps 93.2% to RM746,000 on lower sales
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Rimbunan Sawit 3Q net profit slumps 93.2% to RM746,000 on lower sales
by Cals Fri 21 Nov 2014, 01:54
Rimbunan Sawit 3Q net profit slumps 93.2% to RM746,000 on lower sales
KUALA LUMPUR (Nov 20): Rimbunan Sawit Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)'s net profit for the third quarter ended Sept 30, 2014 (3QFY14) plunged 93.2% to RM746,000 from RM11.1 million in the same quarter a year ago on lower sales volumes for crude palm oil (CPO), palm kernel (PK) and fresh fruit bunches (FFB).
In a filing with Bursa Malaysia today, the oil palm plantation company said its revenue fell 24.5% to RM61.98 million in the quarter just ended compared to RM82.05 million a year earlier.
The company also attributed its revenue fall to lower sales volumes for CPO,PK and FFB, despite a slight improvement in selling prices during the quarter.
Earnings per share (EPS) for 3QFY14 was lower at 0.04 sen compared to 0.54 sen in 3QFY13.
For the nine months ended Sept 30, 2014 (9MFY14), Rimbunan Sawit recorded a net profit of RM7.7 million, reversing its net loss of RM13.38 million a year earlier.
Revenue for 9MFY14 fell 8.8% to RM185.79 million from RM203.71 million in 9MFY13 on lower sales volume for CPO and PK.
EPS for 9MFY14 was 0.38 sen from a loss of 0.66 sen previously.
Rimbunan shares closed 1.5 sen or 2.27% lower to 64.5 sen today, for a market capitalisation of RM857.07 million.
KUALA LUMPUR (Nov 20): Rimbunan Sawit Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)'s net profit for the third quarter ended Sept 30, 2014 (3QFY14) plunged 93.2% to RM746,000 from RM11.1 million in the same quarter a year ago on lower sales volumes for crude palm oil (CPO), palm kernel (PK) and fresh fruit bunches (FFB).
In a filing with Bursa Malaysia today, the oil palm plantation company said its revenue fell 24.5% to RM61.98 million in the quarter just ended compared to RM82.05 million a year earlier.
The company also attributed its revenue fall to lower sales volumes for CPO,PK and FFB, despite a slight improvement in selling prices during the quarter.
Earnings per share (EPS) for 3QFY14 was lower at 0.04 sen compared to 0.54 sen in 3QFY13.
For the nine months ended Sept 30, 2014 (9MFY14), Rimbunan Sawit recorded a net profit of RM7.7 million, reversing its net loss of RM13.38 million a year earlier.
Revenue for 9MFY14 fell 8.8% to RM185.79 million from RM203.71 million in 9MFY13 on lower sales volume for CPO and PK.
EPS for 9MFY14 was 0.38 sen from a loss of 0.66 sen previously.
Rimbunan shares closed 1.5 sen or 2.27% lower to 64.5 sen today, for a market capitalisation of RM857.07 million.
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