28/05/2014 (The Star) - Hap Seng Plantations Holdings Bhd enjoyed an excellent first quarter ended March 31, 2014, as earnings more than double to RM42.2mil from RM19.9mil in the corresponding quarter last year.

Revenue climbed 36.6% to RM138.4mil from RM101.4mil, and the company earned 5.28 sen a share compared to 2.5 sen previously.

According to Hap Seng, the improved performance was mainly due to the higher average selling prices and higher sales volume of crude palm oil and palm kernel.

It said it expected results in the current financial year to be better than the previous year – provided production was not severely affected by the anticipated El-Nino weather phenomenon.