KUALA LUMPUR: Boustead Plantations Bhd has posted a net profit of RM57.6 million in the first nine months to September 30, up from RM31 million in the same period last year.
This was achieved on the back of an improved turnover of RM550.2 million.
For the third quarter, Boustead Plantations recorded a net profit of RM17 million, pre-tax profit of RM20.7 million and revenue of RM162.9 million.
“We are pleased to deliver improved results for the first nine months of the year, despite tough external pressure and volatile crude palm oil (CPO) prices.
“Our strong growth for the period was driven by higher production as well as increased selling prices of crude palm oil and palm kernel,” said Boustead Plantations vice-chairman Tan Sri Lodin Wok Kamaruddin yesterday.
A second interim dividend of two sen a share has been declared, bringing the total dividends to date to four sen a share for the year ending December 31.
Boustead Plantations said the average selling price of CPO for the first nine months of the year was RM2,477 a tonne, compared with RM2,333 in the previous year’s corresponding period. The average palm kernel price was RM1,802 a tonne.
The company’s fresh fruit bunches production for the period increased by four per cent to 773,937 tonnes.