MARKET DEVELOPMENT
Keck Seng Posts Higher Pre-tax Profit In 3Q 2013
Keck Seng Posts Higher Pre-tax Profit In 3Q 2013
27/11/2013 (Bernama) - Keck Seng (Malaysia) Bhd posted a higher pre-tax profit of RM48.77 million in the third quarter ending Sept 30, 2013, from RM17.43 million in the same period last year.
However, revenue was lower at RM226.61 million against RM242.36 million a year earlier, mainly due to the lower selling price of refined oil, said the company in a filing to Bursa Malaysia Wednesday.
Earnings per share rose to 11.82 sen in the quarter, compared to 5.29 sen a year earlier.
On prospects, the company said the fresh fruit bunch (FFB) price is expected to fluctuate in tandem with crude palm oil and palm kernel prices, with production marginally higher than 2012.
For its property development segment, Keck Seng plans to launch new phases of properties, namely low cost shops in Taman Daya, as well as premium gated and guarded residential properties in Bandar Baru Kangkar Pulai, both in Johor.
As for its manufacturing division, the FFB processed in 2013 will be higher than that of 2012.
However, revenue was lower at RM226.61 million against RM242.36 million a year earlier, mainly due to the lower selling price of refined oil, said the company in a filing to Bursa Malaysia Wednesday.
Earnings per share rose to 11.82 sen in the quarter, compared to 5.29 sen a year earlier.
On prospects, the company said the fresh fruit bunch (FFB) price is expected to fluctuate in tandem with crude palm oil and palm kernel prices, with production marginally higher than 2012.
For its property development segment, Keck Seng plans to launch new phases of properties, namely low cost shops in Taman Daya, as well as premium gated and guarded residential properties in Bandar Baru Kangkar Pulai, both in Johor.
As for its manufacturing division, the FFB processed in 2013 will be higher than that of 2012.