PETALING JAYA: Teck Guan Perdana Bhd
expects a tough operating environment for the palm products market in the final quarter of 2024.
In light of this, the company said it would continue its ongoing policies to improve yields, reduce costs and increase productivity amid global uncertainties and emerging market challenges.
In a Bursa Malaysia filing, Teck Guan said it is cautiously optimistic on the long-term prospects of its palm-based business despite these headwinds and is focused on optimising operations for sustained success.
For the third quarter (3Q) ended Oct 31, 2024, Teck Guan’s net profit dipped to RM2.39mil from RM3.64mil in the same period last year.
Revenue also dropped to RM68.37mil from RM91.25mil a year ago. Teck Guan said the revenue drop was mainly attributed to a decrease in sales volume.
Basic earnings per share stood at 5.97 sen versus 9.08 sen previously.
