KUALA LUMPUR: Kuala Lumpur Kepong Bhd
’s (KLK) net profit surged to RM599.3 million within the first quarter ended Dec 31, 2021 (Q1 FY2022) from RM357.4 million in the identical interval a yr earlier.
Revenue jumped to RM6.83 billion from RM4.3 billion beforehand.
The firm instructed the inventory trade its plantation division profit greater than doubled to RM607.9 million, boosted by considerably higher crude palm oil (CPO) and palm kernel (PK) prices.
Its manufacturing division reported a 74 per cent surge in profit to RM319.6 million from RM183.7 million within the earlier corresponding interval.
However, the plantation group’s property improvement enterprise profit fell 14.5 per cent to RM18.8 million regardless of higher income of RM56.0 million due to decrease margins.
For the funding division, its profit improved marginally to RM23.9 million from RM22.2 million beforehand, primarily contributed by higher profit from the farming sector of RM59.7 million due to higher income from the higher common promoting value of all crops.
KLK mentioned its plantation profit for FY2022 is predicted to be higher, supported by buoyant CPO and PK prices and profit contribution from newly acquired subsidiaries.
“Despite a difficult working setting posed by the volatility of uncooked materials prices and intense competitors, the efficiency of the manufacturing division is projected to be passable for FY2022,” it added. – Bernama
