MARKET DEVELOPMENT
TH Plantations Posts Pre-Tax Profit Of RM71.04 Million For FY13
TH Plantations Posts Pre-Tax Profit Of RM71.04 Million For FY13
27/02/2014 (Bernama) - TH Plantations Bhd posted a lower pre-tax profit of RM71.04 million for the financial year ended Dec 31, 2013 from RM185.85 million recorded in the preceding year.
Revenue rose to RM469.95 million last year from RM375.85 million registered in 2012, it said in a statement.
The company proposed a final dividend of 3.62 sen per share.
TH Plantations said the higher revenue last year was driven by a 49 per cent growth in fresh fruit bunches (FFB), a 11 per cent improvement in FFB yield to 23.86 metric tonnes per hectare, as well as, the consequent 66 per cent growth in crude palm oil (CPO) production.
"The significantly higher production was a result of the acquisitions made by the group in 2012 and early last year, which boosted land bank by almost 150 per cent to about 98,000 hectares," the statement said.
With the strengthening of CPO prices, TH Plantations was optimistic of achieving improved revenue and profit in the current year.
Revenue rose to RM469.95 million last year from RM375.85 million registered in 2012, it said in a statement.
The company proposed a final dividend of 3.62 sen per share.
TH Plantations said the higher revenue last year was driven by a 49 per cent growth in fresh fruit bunches (FFB), a 11 per cent improvement in FFB yield to 23.86 metric tonnes per hectare, as well as, the consequent 66 per cent growth in crude palm oil (CPO) production.
"The significantly higher production was a result of the acquisitions made by the group in 2012 and early last year, which boosted land bank by almost 150 per cent to about 98,000 hectares," the statement said.
With the strengthening of CPO prices, TH Plantations was optimistic of achieving improved revenue and profit in the current year.