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MALAYSIA'S IOI OLEOCHEMICAL POSTS RECORD FY PROFIT
calendar17-08-2004 | linkBernama | Share This Post:

KUALA LUMPUR, Aug 16 (Bernama-AFX-ASIA) -- IOI Oleochemical IndustriesBhd said it posted an all-time high pretax profit of 230.55 mln rgt andnet profit of 174.21 mln rgt in the year ended June, supported by highercontributions from the oleochemical manufacturing and plantation segments.The profit figures compare with the pretax profit of 170.83 mln rgtand net profit of 136.18 mln in the previous financial year.In the notes accompanying its results, IOI Oleochemical said theoleochemical manufacturing segment's pretax profit grew 11 pctyear-on-year to 116.9 mln rgt, despite higher palm oil prices, as a resultof volume growth and better cost efficiencies.At the same time, the plantation division's pretax profit improved 104pct to 96.1 mln rgt, reflecting the positive effects of its acquisition ofthe Pamol Group.Its property development, hotel and other divisions also showed someimprovement during the period under review.Going forward, the company said it is confident that the recordperformance can be sustained.