21/08/2014 (Bernama) - Boustead Plantations Bhd's pre-tax profit for the second quarter ended June 30, 2014 rose to RM20.97 million compared with a pre-tax loss of RM16.53 million in the corresponding period last year.

Its revenue increased to RM188.72 million from RM151.77 million previously.

For the first half of the year ended June 30, the company's pre-tax profit increased to RM61.45 million from RM12.84 million in the corresponding period last year.

Boustead Plantations' revenue went up to RM387.29 million from RM343.96 million previously.

For the period under review, earnings per share was 3.8 sen while net assets per share stood at RM1.46.

The company will pay out a two sen interim dividend per share for the financial year ending Dec 31, 2014.

"We will be paying out RM32 million on Sept 24 to our shareholders on the register as at Sept 8," its Vice Chairman, Tan Sri Lodin Wok Kamaruddin said.

Meanwhile, he said Sabah was Boustead Plantations' biggest contributor to the group for the first half of the year, delivering an operating profit of RM43.9 million, followed by the Peninsula and Sarawak.

He said the company offered a somewhat cautious outlook for the second half of the year as it braced for the El Nino impact on crude palm oil prices.

Rising biodiesel mandates in several countries, including Malaysia is also expected to support the market for palm oil, he said.