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NewsUnited Malacca 1Q net profit jumps 77.4% to RM28.87m
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United Malacca 1Q net profit jumps 77.4% to RM28.87m
by hlk Thu 29 Sep 2011, 20:49
KUALA LUMPUR: UNITED MALACCA BHD [] net profit for the first quarter ended July 31, 2011 jumped 77.44% to RM28.87 million from RM16.27 million a year earlier, due mainly to higher product prices.
It said on Thursday, Sept 29 that revenue for the quarter rose to RM70.51 million from RM43.24 million in 2010.
Earnings per share rose to 14.26 sen from 8.09 sen, while net assets per share was RM5.18.
Reviewing its performance, the company said the higher earnings were due mainly to higher crude palm oil and palm kernel prices, as well as higher fresh fruit bunch (FFB) production.
On its prospects, the company said the FFB production for the current financial year ending April 30, 2012 was expected to increase due to additional area coming into harvesting and increasing yield trend from young matured oil palms.
“Should the current level of CPO price be sustained, the group can expect better performance for the current FY ending April 30, 2012,” it said.
It said on Thursday, Sept 29 that revenue for the quarter rose to RM70.51 million from RM43.24 million in 2010.
Earnings per share rose to 14.26 sen from 8.09 sen, while net assets per share was RM5.18.
Reviewing its performance, the company said the higher earnings were due mainly to higher crude palm oil and palm kernel prices, as well as higher fresh fruit bunch (FFB) production.
On its prospects, the company said the FFB production for the current financial year ending April 30, 2012 was expected to increase due to additional area coming into harvesting and increasing yield trend from young matured oil palms.
“Should the current level of CPO price be sustained, the group can expect better performance for the current FY ending April 30, 2012,” it said.
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