MARKET DEVELOPMENT
Unico-Desa Q1 Earnings Slump To RM348,000
Unico-Desa Q1 Earnings Slump To RM348,000
14/08/2013 (The Star) - Unico-Desa Plantations Bhd’s earnings fell 96.8% to RM348,000 in the first quarter ended June 30, 2013 from RM10.89mil a year ago due to lower crude palm oil (CPO) and palm kernel (PK) selling prices.
It said on Tuesday the selling prices were caused by the lower global market prices for oil palm products.
Its revenue declined 35.3% to RM33.81mil from RM52.27mil. Earnings per share fell to 0.04 sen from 1.26 sen.
“The oil palm industry will continue to face challenges such as fluctuations in oil palm commodities prices and changing weather pattern. The overall profitability of the group is very much dependent on crude palm oil prices and also biological aspect of the palm which are mainly not within our control,” it said.
Unico-Desa cautioned that unless there is a significant improvement on the oil palm commodities prices, the board anticipates the profit for the current financial year will not be able to match with the previous financial year.
It said on Tuesday the selling prices were caused by the lower global market prices for oil palm products.
Its revenue declined 35.3% to RM33.81mil from RM52.27mil. Earnings per share fell to 0.04 sen from 1.26 sen.
“The oil palm industry will continue to face challenges such as fluctuations in oil palm commodities prices and changing weather pattern. The overall profitability of the group is very much dependent on crude palm oil prices and also biological aspect of the palm which are mainly not within our control,” it said.
Unico-Desa cautioned that unless there is a significant improvement on the oil palm commodities prices, the board anticipates the profit for the current financial year will not be able to match with the previous financial year.