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Sarawak Oil Palms posts lower pre-tax profit
by hlk Wed 09 May 2012, 08:23
Sarawak Oil Palms Bhd registered a lower
pre-tax profit of RM57.31 million in the first quarter ended March 31, 2012
compared with RM81.554 million in the same quarter last year.
Revenue for the quarter declined to RM228.783 million from RM238.484 million
posted previously, the company said in a filing to Bursa Malaysia here today.
It said the lower profit was due to lower volume of crude palm oil (CPO)
sold coupled with lower average CPO and palm kernel prices realised compared to
first quarter of 2011.
The average CPO price realised for the first quarter of 2012 was RM3,328
metric tonnes as compared to RM3,639 metric tonnes during the same quarter last
year.
Moving forward, the company said its performance was largely dependent on
developments in the world edible oil market, bio-diesel market, fossil market,
movement of the ringgit, the world economic situation and their corresponding
effect on CPO prices.
The cost of production of the group is expected to increase this year due
mainly to the revision of salaries and wages, it added. -- Bernama
pre-tax profit of RM57.31 million in the first quarter ended March 31, 2012
compared with RM81.554 million in the same quarter last year.
Revenue for the quarter declined to RM228.783 million from RM238.484 million
posted previously, the company said in a filing to Bursa Malaysia here today.
It said the lower profit was due to lower volume of crude palm oil (CPO)
sold coupled with lower average CPO and palm kernel prices realised compared to
first quarter of 2011.
The average CPO price realised for the first quarter of 2012 was RM3,328
metric tonnes as compared to RM3,639 metric tonnes during the same quarter last
year.
Moving forward, the company said its performance was largely dependent on
developments in the world edible oil market, bio-diesel market, fossil market,
movement of the ringgit, the world economic situation and their corresponding
effect on CPO prices.
The cost of production of the group is expected to increase this year due
mainly to the revision of salaries and wages, it added. -- Bernama
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