MARKET DEVELOPMENT
Far East FY15 Pre-Tax Profit Falls To RM102.35 Million
Far East FY15 Pre-Tax Profit Falls To RM102.35 Million
24/02/2016 (Bernama) - Far East Holding Bhd's pre-tax profit for the financial year ended Dec 31, 2015 fell to RM102.35 million from RM129.24 million posted in the previous year.
Revenue went down to RM327.74 million from RM428.34 million registered in last year.
In a filing to Bursa Malaysia today, the company said the lower performance for the year was due to lower average crude palm oil and kernel prices, lower other operating income, lower contribution from the share of profits from associated companies and gain from the part-disposal of Bandar Indera Mahkota that was recognised in 2014.
The group said it expects to achieve favourable results this year in view of the sustainable crude palm oil price.
Revenue went down to RM327.74 million from RM428.34 million registered in last year.
In a filing to Bursa Malaysia today, the company said the lower performance for the year was due to lower average crude palm oil and kernel prices, lower other operating income, lower contribution from the share of profits from associated companies and gain from the part-disposal of Bandar Indera Mahkota that was recognised in 2014.
The group said it expects to achieve favourable results this year in view of the sustainable crude palm oil price.