Glenealy Plantations (Malaya) Bhd's pre-tax profit for the second quarter ended Dec 31, 2010 increased 95 per cent to RM35.82 million from RM18.37 million in the same quarter in 2009.

Revenue rose 34 per cent to RM70.06 million from RM52.54 million, it said in a filing to Bursa Malaysia today.

For the six-month period, its pre-tax profit went up RM50.02 million from RM27.04 million in 2009.

Its revenue jumped to RM112.67 million from RM93.60 million.

Glenealy said the better revenue was mainly due to a higher average crude palm oil (CPO) price in the second quarter of the current financial year.

With CPO prices expected to remain firm and higher CPO production in the company, the outlook for the company was favourable, it added.
-- BERNAMA