MARKET DEVELOPMENT
Genting Plantations' Pre-tax Profit Down 61 Per Cent In Third Quarter
Genting Plantations' Pre-tax Profit Down 61 Per Cent In Third Quarter
28/11/2013 (Bernama) - Genting Plantations Bhd's pre-tax profit for the third quarter ended Sept 30, 2013 declined 61 per cent, year-on year, to RM43.975 million.
Revenue, however, rose to RM342.45 million, during the period under review, from RM326.569 million chalked up previously.
In a filing to Bursa Malaysia, Genting Plantations said the higher revenue was underpinned by improved performances of its property segment and plantations in Indonesia, coupled with the maiden sales of biodiesel from its plant in Lahad Datu, Sabah.
These factors more than offset the lower revenue contribution from its plantation in Malaysia, where selling prices of palm products were weaker, the filing said.
Revenue, however, rose to RM342.45 million, during the period under review, from RM326.569 million chalked up previously.
In a filing to Bursa Malaysia, Genting Plantations said the higher revenue was underpinned by improved performances of its property segment and plantations in Indonesia, coupled with the maiden sales of biodiesel from its plant in Lahad Datu, Sabah.
These factors more than offset the lower revenue contribution from its plantation in Malaysia, where selling prices of palm products were weaker, the filing said.