TSH Resources Bhd registered a higher pre-tax profit of RM33.640 million for the first quarter ended March 31, 2011, compared to RM17.918 million in the same period last year driven by strong
plantation earnings.

The company's revenue increased five per cent to RM252.599 million from RM240.476 million previously.

'Overall, the palm and bio-integration business segment's performance improved as result of higher crude palm oil prices and crop production, arising mainly from higher hectarage of mature plantation fields in Indonesia,' it said in a filing to Bursa Malaysia today.

The cocoa manufacturing segment also reported a better result due to an improved margin and stable prices.

However, as for the wood products segment whose bulk of its sale are exported, the operating environment in Europe and the United
States remains difficult.

The weak market coupled with the strengthening of the ringgit against the euro and the US dollar also dented the margins.

Palm oil prices are expected to be maintained above RM3,000 and the group is expected to achieve a satisfactory level of profitability. -- Bernama