26/05/2016 (Bernama) - Plantation firm, TSH Resources Bhd, chalked up a higher pre-tax profit of RM64.39 million for the first quarter ended March 31, 2016, from RM8.54 million reported in the same period in 2015.

The strong performance was mainly due to higher exchange gains of RM39.2 million, the company said in a filing to Bursa Malaysia Wednesday.

Revenue, however, fell to RM202.28 million against RM206.03 million registered previously.

It said that the palm product segment accounted for more than 80 per cent of the company's revenue and profit and would remain to remain as a significant contributor.

"The company is optimitic of the long-term prospects of the palm oil industry and will continue to focus on oil palm planting programme in Indonesia and Malaysia," the statement added.