FGV earnings down, closing 4 palm oil mills, 2 rubber factories, 1refinery


Zakaria: ‘The volume sold during the quarter was lower compared with last year.’ – Bernama

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) reported its lowest full-year net profit since its initial public offering in 2012 on account of several rationalisation costs and one-off recognitions made during the final quarter.

These recognitions dragged down FGV’s overall net profit for the financial year ended Dec 31, 2016 (FY16) to RM29.61mil compared with RM188.79mil a year ago. Its full-year revenue amounted to RM17.28bil, a considerable improvement from RM15.55bil in FY15.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , fgv , palm , plantation , felda , mills , plantations , refinery , stocks , shares , earnings , palm oil , cpo ,

   

Next In Business News

Cautious tone expected for ringgit versus US dollar trading next week
U Mobile to reduce foreign majority shareholdings to 20%
MACC investigating Khazanah, PNB's unsuccessful investment
Another data centre job for Gamuda
SOBA judges, past winners share winning tips
Government and venture capital
Selling pressure amid Mideast and polls anxiety
Low volatility a remedy for the extremes?
Maximising your unit trust returns
Dishing up consumer success

Others Also Read