Results: Kretam Q2 profit surges

Kretam Holdings Bhd's pre-tax profit for the second quarter ended June 30, 2011, surged to RM30.355 million from RM11.537 million recorded in the same period last year.

Revenue rose to RM61.157 million from RM31.792 million previously due to the recovery in fresh fruit bunches production, the plantation based company said in a filing to Bursa Malaysia today.

For the six-month period, pre-tax profit jumped to RM59.672 million from RM24.372 million previously, on revenues of RM109.865 million and RM64.306 million respectively.

"CPO (crude palm oil) prices in 2011 have been significantly higher than those in the corresponding period in 2010, and this was the major factor in the 71 per cent increase in revenue," it said.

It also said that if earlier predictions by various parties that CPO's average price for 2011 would reach RM3,000 materialises, the year would represent another record breaking performance from its plantation operations.

# Chin Well Holdings Bhd has reported a higher profit before tax of RM18.38 million for its fourth quarter ended June 30, 2011 compared to RM808,000 in the same quarter last year.

Revenue also increased to RM149.89 million from RM119.29 million.

In a filling to Bursa Malaysia today, the company said the increase in profit before tax was mainly attributed to higher sales revenue as well as realised and unrealised forex gain yield due to currency exchange.

For its cumulative 12-month period, the company also registered a higher profit before tax of RM52.37 million compared to the RM18.95 million recorded in the previous corresponding period.

Revenue also rose to RM502.59 million compared to RM404.03 million previously.