Genting Plantations Bhd’s net profit for the third quarter ended Sept 30, 2022 (Q3 FY2022) slipped to RM75.49 million from RM102.22 million in the same quarter last year on account of higher production costs.
However, revenue rose 12 per cent to RM822.37 million versus RM732.82 million previously, it said in a filing with Bursa Malaysia today.
"The better performance was mainly buoyed by higher sales volume in the plantation segment and higher pricing of products in the downstream manufacturing segment,” it said in a statement.
On a nine-month basis ended Sept 30, 2022, its net profit widened to RM415.56 million from RM270.58 million on the back of revenue rising 16 per cent to RM2.40 billion from RM2.06 billion in the preceding year.
However, bumper harvest of soybean and rapeseed for the current season and the looming economic turmoil may weaken the support on palm oil prices,” the statement said.
The group’s FFB production in Indonesia is expected to improve with its favourable age profile and higher harvesting area but largely moderated by the current wet weather. Its operations in Malaysia, on the other hand, may record a setback as it continues with its replanting activities, it said. - Bernama
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ElizaWong
620 posts
Posted by ElizaWong > 2022-11-11 10:26 | Report Abuse
Trued. Let's see if their Q3 will beat the estimation or not : )