Higher Q2 profit for United Malacca

PETALING JAYA: United Malacca Bhd said its pre-tax profit and revenue fell to RM24.59mil and RM44.34mil respectively for the second quarter ended Oct 31 as lower crude palm oil and palm kernel prices, and lower fresh fruit bunch (FFB) production hit its plantation operations.

Net profit, however, was higher at RM19.35mil as the lower plantation profit was partially cushioned by higher investment income, the company said in a filing with Bursa Malaysia yesterday. Earnings per share increased to 14.44 sen from 14.21 sen previously.

The company declared an interim dividend of 10 sen gross less 25% taxation per share, payable on Jan 18.

For the six months to Oct 31, its net profit declined to RM33.4mil on revenue of RM86.43mil against RM46.5mil and RM124.7mil in the previous corresponding period.

It said the group’s FFB production for the financial year ending Apr 30 was expected to continue to increase arising from additional areas coming into harvesting and increasing yield from the young matured oil palms in its estates.

“Should the current level of crude palm oil prices be sustained, the group can expect another year of good performance,” it added.

Source: The Star

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