04/08/2012 (Bernama) - TH Plantations Bhd's pre-tax profit dropped to RM24.753 million in the second quarter ended June 30, 2012 compared with RM54.24 million posted in the same period last year.

Revenue for the quarter slipped to RM99.352 million from RM112.713 million chalked up previously, the company said in a filing to Bursa Malaysia.

The company said the reduced revenue was mainly contributed by lower sales of crude palm oil and palm kernel.

For the first six months, the company registered a pre-tax profit of RM49.857 million on a turnover of RM194.398 million.

It said the lower pre-tax profit was due to higher production costs which also included higher manuring cost due.

Commenting on prospects, the group said it was optimistic of sustaining its current satisfactory performance.