Chin Teck Plantations Bhd posted a higher pre-tax profit of RM20.786 million for the first quarter ended Nov 30, 2010 compared with RM18.149 million in the same period of 2009.

The company's revenue also improved to RM30.996 million from RM29.650 million previously.

In a filing to Bursa Malaysia, Chin Teck Plantations said during the first quarter, the average selling price of fresh fruit bunches (FFB), crude palm oil and palm kernel were substantially higher than those in the previous corresponding financial quarter and period.

However, the company said the production of FFB, crude palm oil and palm kernel were significantly lower, resulting in reduced sales volume.

It said other income was substantially higher due mainly to an increase in gain on foreign exchange and an amount of replanting incentive received. -- Bernama