United Plantations 3Q earnings rise

PETALING JAYA: United Plantations Bhd is expecting “very satisfactory” results for its financial year ending Dec 31, 2023 (FY23), based on the current palm oil prices and the company’s efforts in securing a budgeted crop in the final quarter of 2023 (4Q23).

In 3Q23, the plantation firm saw its net profit rising to RM235.68mil compared to the RM196.72mil reported in 3Q22. This is despite a drop in revenue to RM540.16mil compared to RM649.62mil before.

Basic earnings per share stood at 56.82 sen versus 47.43 sen previously.

For the nine-month period, the group saw its revenue decrease to RM1.47bil from the RM1.99bil reported previously.