MARKET DEVELOPMENT
FGV Chalks Up RM89.16 Million Pre-tax Profit In Q3
FGV Chalks Up RM89.16 Million Pre-tax Profit In Q3
28/11/2014 (Bernama) - Felda Global Ventures Holdings Bhd (FGV) chalked up a pre-tax profit of RM89.16 million in the third quarter ended Sept 30, 2014 versus RM81.37 million registered in the same period last year.
Revenue rose to RM4.32 billion, for the period under review, compared with RM3.22 billion recorded in the corresponding quarter, the company said in a filing to Bursa Malaysia Thursday.
Meanwhile, the company in separate statement, attributed the higher revenue to the consolidation of Felda Holdings Bhd and Pontian United Plantations Bhd.
On outlook, FGV Group President and Chief Executive Officer Datuk Mohd Emir Mavani Abdullah said the company expected global crude palm oil (CPO) prices to improve in the coming quarters, an expectation shared by many leading analysts, which would have a positive impact on its revenue outlook.
"This outlook will be strengthened by the exemption of CPO export duties until the end of 2014, as well as, the introduction of the government's B7 biodiesel mandate," he added.
Revenue rose to RM4.32 billion, for the period under review, compared with RM3.22 billion recorded in the corresponding quarter, the company said in a filing to Bursa Malaysia Thursday.
Meanwhile, the company in separate statement, attributed the higher revenue to the consolidation of Felda Holdings Bhd and Pontian United Plantations Bhd.
On outlook, FGV Group President and Chief Executive Officer Datuk Mohd Emir Mavani Abdullah said the company expected global crude palm oil (CPO) prices to improve in the coming quarters, an expectation shared by many leading analysts, which would have a positive impact on its revenue outlook.
"This outlook will be strengthened by the exemption of CPO export duties until the end of 2014, as well as, the introduction of the government's B7 biodiesel mandate," he added.