KUALA LUMPUR: Sarawak Plantation Bhd
anticipates satisfactory performance for the current financial year, subject to a sustainable crude palm oil (CPO) price and barring any unforeseen circumstances.
The group said CPO prices recently surged to their highest level since July 2022, surpassing RM5,000 per metric tonne.
“The anticipated tight supply of vegetable oils and rising demand for palm oil will contribute to a favourable price outlook.
“The group remains committed to prioritising replanting for sustainable yield and production and focus on achieving a reasonable level of production and cost-effectiveness,” Sarawak Plantation said in a filing with Bursa Malaysia.
In the third quarter ended Sept 30, the group’s net profit rose 14.5% to RM31.1mil, or earnings per share of 11.13 sen from RM27.1mil, or 9.72 sen in the same quarter last year.
Revenue, however, dipped to RM149.1mil against RM172.6mil a year ago.
During the quarter, its operating profit before tax was RM32.5mil compared to RM35.3mil for the corresponding period of the preceding year.
The decrease in operating profit was principally due to the effect of lower sales volume of CPO and palm kernel (PK) despite higher realised average selling price of CPO and PK during the current interim quarter.
For the first nine months, it posted a 36% higher net profit of RM75.8mil on revenue of RM407.8mil.
Sarawak Plantation has declared a second interim, single-tier dividend of 15 sen per share, amounting to RM42mil, to be paid to shareholders on Dec 27. The dividend entitlement date is set for Dec 9,
