24/02/2010 (IB Times) - Narborough Plantations saw revenue fall nearly 30% in 2009 following a second-half drop in crude palm oil prices.

The company reported a pre-tax profit of 0.76m for the year to December, down from the previous 0.89m.

Revenue totalled 1.02m compared with 1.32m in 2008.

The company pointed to the weak global economy and sustainability and environmental issues associated with oil palm cultivation.

Crude palm oil prices recovered in the first half but fell again in the second half, 'mostly due to bearish sentiments brought on by lower crude oil and vegetable oils prices'.

Adverse weather conditions throughout the year together with pest attack on the oil palms put further stress on their productivity, which was down 6%.

No final dividend was declared.