KUALA LUMPUR, April 30 (Bernama) – Chin Teck Plantations Bhd’s earnings more than doubled to RM22.66 million in the second quarter ended Feb 28, 2018, from RM8.11 million a year ago, thanks mainly to a net fair value gain of RM14.11 million on the sale of investment securities.
Revenue, meanwhile, grew 12.3 per cent ,year-on-year, to RM42.19 million on higher sales volumes of fresh fruit bunches, crude palm oil and palm kernel, the company said in a filing with Bursa Malaysia today.
It recorded the improvement in revenue despite the lower average prices of the said products.
On its prospects, Chin Teck said the average selling price of crude palm oil was expected to be lower this year compared with last year.
– BERNAMA