Bursa Malaysia Stock Watch
Tradewinds Plantation 3Q net profit doubles to RM50.29m
kltrader
Publish date: Fri, 19 Nov 2010, 10:24 PM
kltrader
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KUALA LUMPUR: Tradewinds PLANTATION [] Bhd's net profit rose 106% to RM50.29 million in the third quarter ended Sept 30, 2010 from RM24.41 a year ago as it benefited from higher prices of palm products and an increase in fresh fruit bunches.
It said on Friday, Nov 19 revenue increased 30.1% to RM238.84 million from RM183.48 million, while earnings per share were 7.99 sen compared with 3.88 sen. Net assets per share was RM2.75.
Tradewinds Plantation declared a gross first interim dividend of five sen per share totaling RM19.84 million.
It also said the improved 3Q performance was due to lower share of losses in a jointly controlled entity.
Based on the prevailing prices of palm products, it expects the results for the remaining period of the current financial year to be better than the current reporting quarter.
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