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NewsTDM 3Q profit falls 39% on lower plantation income
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TDM 3Q profit falls 39% on lower plantation income
by Cals Tue 25 Nov 2014, 00:10
TDM 3Q profit falls 39% on lower plantation income
KUALA LUMPUR (Nov 24): TDM Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)'s net profit fell 39% to RM7.6 million in the third quarter ended September 30, 2014 (3QFY14), from RM12.55 million a year earlier.
Profit fell mainly on lower plantation income, as crude palm oil output and prices declined.
In a statement to Bursa Malaysia today, TDM said group revenue dropped to RM98.31 million, from RM101.2 million.
"The group remains positive on the long-term fundamentals of the industry. Despite lower palm oil prices, the group expects FY14 performance to remain satisfactory," TDM said.
Cumulative nine-month net profit however, rose to RM36.81 million, from RM21.33 million a year earlier. Revenue was higher at RM286.47 million versus RM272.43 million.
TDM shares had not been traded so far today. Based on the stock's latest closing price of 90 sen, the firm had a market capitalisation of RM1.33 billion.
KUALA LUMPUR (Nov 24): TDM Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)'s net profit fell 39% to RM7.6 million in the third quarter ended September 30, 2014 (3QFY14), from RM12.55 million a year earlier.
Profit fell mainly on lower plantation income, as crude palm oil output and prices declined.
In a statement to Bursa Malaysia today, TDM said group revenue dropped to RM98.31 million, from RM101.2 million.
"The group remains positive on the long-term fundamentals of the industry. Despite lower palm oil prices, the group expects FY14 performance to remain satisfactory," TDM said.
Cumulative nine-month net profit however, rose to RM36.81 million, from RM21.33 million a year earlier. Revenue was higher at RM286.47 million versus RM272.43 million.
TDM shares had not been traded so far today. Based on the stock's latest closing price of 90 sen, the firm had a market capitalisation of RM1.33 billion.
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