MARKET DEVELOPMENT
TH Plantations Sets Returns on Equity of 6% for FY2014 (Update)
TH Plantations Sets Returns on Equity of 6% for FY2014 (Update)
22/04/2014 (The Star) - TH Plantations Bhd targets return on equity of 6% under its key performance indicators (KPIs) for 2014 and fresh fruit bunches (FFB) yield of 22.40 tonnes per ha.
It said on Tuesday the KPI included its target to distribute about 50% of the group's annual profit after tax and minority interests (PATAMI) as dividends.
Under its medium term headline KPIs (FY2013 to FY2015), TH Plantations said it would undertake new and strategic land bank expansions of an additional 30,000 ha to strengthen its position as a medium size plantation company.
"As at to-date, we have acquired 6,514 ha of oil palm plantation in Sarawak translating into 22% of the targeted land bank expansions. Barring unforeseen circumstances, we are optimistic to achieve the target by FY2015," it said.
TH Plantations said it concentrating on the key growth nodes, the group-wide business sustainable initiatives in maximising value from its operations.
"Moving forward, the group will remain focused on the sustainable business initiatives aimed to achieve higher FFB yields and oil extraction rate on the back of lower production cost in order to optimise its financial performance," it said.
As for its KPIs for FY ended Dec 31, 2013, it said its target for ROE was 6.5% but its audited group results achieved a 5.47% ROE.
It said the lower ROE was due to corporate exercises undertaken that involved equity which resulted in a higher shareholders' fund and softer earnings mainly attributed to lower commodity prices.
As for FFB yield, it managed to achieve higher target of 23.86 tonnes under its audited results compared with its target of 20.50 tonnes.
It said on Tuesday the KPI included its target to distribute about 50% of the group's annual profit after tax and minority interests (PATAMI) as dividends.
Under its medium term headline KPIs (FY2013 to FY2015), TH Plantations said it would undertake new and strategic land bank expansions of an additional 30,000 ha to strengthen its position as a medium size plantation company.
"As at to-date, we have acquired 6,514 ha of oil palm plantation in Sarawak translating into 22% of the targeted land bank expansions. Barring unforeseen circumstances, we are optimistic to achieve the target by FY2015," it said.
TH Plantations said it concentrating on the key growth nodes, the group-wide business sustainable initiatives in maximising value from its operations.
"Moving forward, the group will remain focused on the sustainable business initiatives aimed to achieve higher FFB yields and oil extraction rate on the back of lower production cost in order to optimise its financial performance," it said.
As for its KPIs for FY ended Dec 31, 2013, it said its target for ROE was 6.5% but its audited group results achieved a 5.47% ROE.
It said the lower ROE was due to corporate exercises undertaken that involved equity which resulted in a higher shareholders' fund and softer earnings mainly attributed to lower commodity prices.
As for FFB yield, it managed to achieve higher target of 23.86 tonnes under its audited results compared with its target of 20.50 tonnes.