MARKET DEVELOPMENT
United Plantations Q1 Earnings up 35.7% to RM87.74M
United Plantations Q1 Earnings up 35.7% to RM87.74M
29/04/2014 (The Star) - United Plantations Bhd's earnings rose 35.7% to RM87.74mil in the first quarter ended March 31, 2014 from RM64.64mil a year ago due to higher crude palm oil (CPO) production and higher selling prices.
It said on Monday its revenue increased by 21% to RM261.02mil from RM215.72mil. Earnings per share were 42.23 sen compared with 31.06 sen.
United Plantations said profit before tax improved 31.4% to RM109.64mil from RM83.38mil a year ago, mainly due to higher CPO output, higher selling prices of CPO and palm kernel due to an improvement in world vegetable oil prices.
It added the profit before tax of the refinery business improved by 80.5% due to improved margins in some of the niche products.
It said on Monday its revenue increased by 21% to RM261.02mil from RM215.72mil. Earnings per share were 42.23 sen compared with 31.06 sen.
United Plantations said profit before tax improved 31.4% to RM109.64mil from RM83.38mil a year ago, mainly due to higher CPO output, higher selling prices of CPO and palm kernel due to an improvement in world vegetable oil prices.
It added the profit before tax of the refinery business improved by 80.5% due to improved margins in some of the niche products.