According to RHB Research, SOP recorded palm oil and palm kernel prices of RM3,885 per tonne or up 45% year-on-year (y-o-y) and RM2,889 per tonne (up 55% y-o-y) respectively in Q1FY21, which boosted profits significantly.
PETALING JAYA: Sarawak Oil Palms
(SOP) Bhd is on track to deliver record profit in the financial year ending Dec 31,2021 (FY21), driven by higher crude palm oil (CPO) average selling prices (ASP).
The group’s first quarter (Q1) earnings came in within expectations and it has largely stayed on analysts’ “buy” list – particularly for its sensitivity to the CPO price uptrend.
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