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NewsGlenealy Q3 pre-tax profit falls to RM19m
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Glenealy Q3 pre-tax profit falls to RM19m
by hlk Fri 11 May 2012, 00:32
Glenealy Plantations (Malaya) Bhd's pre-tax profit for the third quarter ended March 31, 2012, dived to RM19.047
million from RM35.413 million in the same period last year.
Revenue declined to RM60.021 million from RM69.135 million previously due to lower fresh fruit bunches production despite higher average crude palm oil prices.
Glenealy said palm oil prices were forecast to remain well-supported as palm oil production was expected to slow down as it entered a resting phase.
"Global oilseeds and vegetable oils supplies are at multi-year low due to drought induced production losses over the past few seasons in various countries," it said in a filing to Bursa Malaysia today.
Based on these factors, it said the outlook for the fourth quarter of the current financial year was expected to remain positive. -- Bernama
million from RM35.413 million in the same period last year.
Revenue declined to RM60.021 million from RM69.135 million previously due to lower fresh fruit bunches production despite higher average crude palm oil prices.
Glenealy said palm oil prices were forecast to remain well-supported as palm oil production was expected to slow down as it entered a resting phase.
"Global oilseeds and vegetable oils supplies are at multi-year low due to drought induced production losses over the past few seasons in various countries," it said in a filing to Bursa Malaysia today.
Based on these factors, it said the outlook for the fourth quarter of the current financial year was expected to remain positive. -- Bernama
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