MARKET DEVELOPMENT
TH Plantations Q3 Pre-Tax Profit Falls To RM14.97 Million
TH Plantations Q3 Pre-Tax Profit Falls To RM14.97 Million
27/11/2015 (Bernama) - TH Plantations Bhd's pre-tax profit for the third quarter ended Sept 30, 2015 fell to RM14.97 million from RM18.777 million recorded in the corresponding quarter last year.
Revenue rose slightly to RM133.49 billion from RM133.31 billion previously, it said in a filing to Bursa Malaysia today.
Commenting on the performance, Chief Executive Officer/Executive Director Zainal Azwar Zainal Aminuddin said 2015 turned out to be even more challenging for the palm oil sector than anticipated.
"We are bracing ourselves for the effects of El Nino, which will only materialise after 18 months, as well as the anticipated wet weather in the final quarter of the year," he said.
The group's area under oil palm plantation now spans over 60,000 hectares sprawled throughout Malaysia.
Revenue rose slightly to RM133.49 billion from RM133.31 billion previously, it said in a filing to Bursa Malaysia today.
Commenting on the performance, Chief Executive Officer/Executive Director Zainal Azwar Zainal Aminuddin said 2015 turned out to be even more challenging for the palm oil sector than anticipated.
"We are bracing ourselves for the effects of El Nino, which will only materialise after 18 months, as well as the anticipated wet weather in the final quarter of the year," he said.
The group's area under oil palm plantation now spans over 60,000 hectares sprawled throughout Malaysia.