MARKET DEVELOPMENT
Kim Loong Q3 Pre-tax Profit Rises To RM37.61 Million
Kim Loong Q3 Pre-tax Profit Rises To RM37.61 Million
31/12/2015 (Bernama) - Investment holding company Kim Loong Resources Bhd's pre-tax profit for the third quarter ended Oct 31, 2015 rose to RM37.61 million from RM23.25 million in the same period of 2014.
Revenue increased to RM209.12 million from RM179.4 million previously.
In a filing to Bursa Malaysia today, Kim Loong attributed the better performance mainly to higher processing quantity and better margins in its palm oil milling operations.
"Total crude palm oil (CPO) production for the current quarter and year-to-date was 89,100 metric tonnes and 231,200 metric tonnes respectively, which were 25 per cent and 16 per cent higher than the production in the corresponding periods last year," it said.
On prospects, Kim Loong said it expects fresh fruit bunch production to be marginally higher with CPO production about 15 per cent higher than in financial year 2015.
Revenue increased to RM209.12 million from RM179.4 million previously.
In a filing to Bursa Malaysia today, Kim Loong attributed the better performance mainly to higher processing quantity and better margins in its palm oil milling operations.
"Total crude palm oil (CPO) production for the current quarter and year-to-date was 89,100 metric tonnes and 231,200 metric tonnes respectively, which were 25 per cent and 16 per cent higher than the production in the corresponding periods last year," it said.
On prospects, Kim Loong said it expects fresh fruit bunch production to be marginally higher with CPO production about 15 per cent higher than in financial year 2015.