KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) has posted a net profit of RM306.37 million for the year ended December 31 2014.
FGV recorded a net profit of RM982.25 million in 2013, which was boosted by the more than RM810 million in fair value gain and fair value changes in the land lease agreement liability.
The group’s fourth quarter net profit rebounded to RM20.21 million from the net loss of RM9.3 million in the preceding quarter.
Group revenue for the full-year rose 30.8 per cent to RM16.4 billion.
It also delivered a strong growth in gross profit of RM2.14 billion compared to RM878.27 million in the same period in 2013.
At the same time, operating profit increased by 10 per cent to RM1.03 billion in 2014 from RM939.66 million the year before.
FGV group president and chief executive officer Datuk Mohd Emir Mavani Abdullah said it had also realised a higher average crude palm oil price of RM2,410 per tonne compared to RM2,333 per tonne in 2013.
Its oil extraction rate of 21.01 per cent was higher than the 20.44 pe rcent recorded in the previous year.