MARKET DEVELOPMENT
Sarawak Plantation Q2 Earnings Fall 91.7% To RM1.33Mil
Sarawak Plantation Q2 Earnings Fall 91.7% To RM1.33Mil
24/08/2013 (The Star) - Sarawak Plantation Bhd's earnings tumbled 91.7% to only RM1.33mil in the second quarter ended June 30, 2013 from RM16.17mil a year ago due to lower realised average selling prices and sales volumes of crude palm oil prices (CPO) and palm kernel (PK).
It announced on Friday that revenue fell 39.8% to RM70.98mil from RM117.99mil. Earnings per share were 0.48 sen compared with 5.78 sen.
Sarawak Plantations said for the first half, its earnings fell 73% to RM8.79mil from RM32.79mil in the previous corresponding period. Its revenue fell 33.9% to RM144.95mil from RM219.49mil.
"The realised average selling prices of CPO and PK decreased by approximately 30.2% and 37.8% respectively for the current financial period in tandem with the global vegetable oil price trends.
"The sales volumes of CPO and PK had decreased by approximately 4.4% and 7.5% respectively for the current financial period as compared to the corresponding period of the preceding year," it said.
It announced on Friday that revenue fell 39.8% to RM70.98mil from RM117.99mil. Earnings per share were 0.48 sen compared with 5.78 sen.
Sarawak Plantations said for the first half, its earnings fell 73% to RM8.79mil from RM32.79mil in the previous corresponding period. Its revenue fell 33.9% to RM144.95mil from RM219.49mil.
"The realised average selling prices of CPO and PK decreased by approximately 30.2% and 37.8% respectively for the current financial period in tandem with the global vegetable oil price trends.
"The sales volumes of CPO and PK had decreased by approximately 4.4% and 7.5% respectively for the current financial period as compared to the corresponding period of the preceding year," it said.