MARKET DEVELOPMENT
Keck Seng Q3 Profit Rises To Rm124.7 Million
Keck Seng Q3 Profit Rises To Rm124.7 Million
30/11/2015 (Bernama) - Keck Seng (Malaysia) Bhd's pre- tax profit for the third quarter (Q3) ended Sept 30, 2015 rose to RM124.75 million from RM59.07 million registered in the same period last year.
Revenue, however, fell to RM242.53 million from RM298.48 million previously, it said in a filing to Bursa Malaysia Friday.
Keck Seng said the lower revenue in the current quarter was attributed to manufacturing segment which recorded a lower quantity and price of refined oil sold.
On prospects, Keck Seng said fresh food bunches (FFB) production for 2015 was expected to be more or less the same and crude palm oil (CPO) price would continue to remain volatile, influenced by the strength of the ringgit and current high soya bean production.
The company said the refinery was expected to continue operating in a challenging environment against the backdrop of a volatile US dollar and competitive CPO prices.
Revenue, however, fell to RM242.53 million from RM298.48 million previously, it said in a filing to Bursa Malaysia Friday.
Keck Seng said the lower revenue in the current quarter was attributed to manufacturing segment which recorded a lower quantity and price of refined oil sold.
On prospects, Keck Seng said fresh food bunches (FFB) production for 2015 was expected to be more or less the same and crude palm oil (CPO) price would continue to remain volatile, influenced by the strength of the ringgit and current high soya bean production.
The company said the refinery was expected to continue operating in a challenging environment against the backdrop of a volatile US dollar and competitive CPO prices.