01/11/2014 (The Star) - Chin Teck Plantations Bhd posted net profit of RM11.2mil in the fourth quarter ended Aug 31, 2014 due to an improvement in the selling prices of crude palm oil and palm kernel and from its Indonesian operations.

It said on Friday, the earnings were 21.2% higher compared with RM9.25mil a year ago. Earnings per share were 12.30 sen compared with 10 sen.

Chin Teck’s revenue rose 12.1% to RM29.81mil from RM26.59mil, underpinned by higher average selling prices and sales volume of CPO

Despite the firmer earnings, its overall operating expenses were higher mainly due to increase in the purchase of fresh fruit bunches (FFB) and unrealised foreign exchange loss.

For FY ended Aug 31, 2014, its earnings rose 45% to RM36.02mil from RM24.91mil in FY13.  Revenue rose 15.9% to RM118.87mil from RM102.51mil.

The higher revenue was due to higher average selling prices of FFB, palm kernel and the sale volume of CPO and palm kernel.

On the outlook for the current financial year, Chin Teck said selling prices of FFB, CPO and palm kernel had weakened since the end of FY14.

“Should this trend continue, it would have a corresponding effect on the financial performance of FY ending Aug 31, 2015,” it cautioned.