KUALA LUMPUR: TH Plantations Bhd slipped into red in the first quarter ended March 31, 2019, with a net loss of RM8.09 million compared with a net profit of RM3.23 million in the same quarter last year.
Revenue was lower at RM115.28 million against RM121.24 million recorded in the previous year's corresponding period due to lower average realised prices of crude palm oil CPO), palm kernel (PK) and fresh fruit bunches (FFB), the plantation firm told Bursa Malaysia today.
Chief executive officer Muzmi Mohamed noted that the group performed better at operational level with higher FFB and CPO output but lower CPO and PK prices led to weaker revenue.
He said the group expected better production this year but its recovery might be hampered by continued weak prices.