22/02/2016 (Bernama) - Boustead Plantations Bhd (BPB) posted a higher pre-tax profit for the financial year ended Dec 31, 2015 at RM95.1 million from the RM89.8 million recorded in the same period of 2014.

Revenue, however, fell to RM615.2 million from RM717.3 million previously.

In a statement, the company said the improved profit for the year was primarily attributable to gains on disposal of non-core land bank, amounting to RM57.1 million.

To enhance shareholder value, the company has declared a dividend of three sen per share, which will be paid on March 25, 2016.

This will bring cumulative dividends to 13 sen per share.

"It has certainly been a challenging year. The company was impacted by a volatile global economy and low crude oil prices, leading to soft crude palm oil prices in 2015.

"We were able to deliver bottom line results for the year as we disposed of non-core land.

"We will continue to review the effective usage of our land bank to ensure it remains beneficial to our core business," said Vice Chairman, Tan Sri Lodin Wok Kamaruddin.

He also said the company would remain focused on strengthening operational efficiencies to drive it forward.