United Plantations Q2 pre-tax rises to RM142.7m

KUALA LUMPUR: United Plantations Bhd’s pre-tax profit for the second quarter ended June 31 increased to RM142.56 million from RM86.98 million in the same period last year.

Revenue rose to RM355.26 million from RM277.73 million previously, it said.

United Plantations said its plantation division registered a higher pre-tax profit of 41.8 per cent in the current quarter compared with the previous one, mainly due to a combination of higher crude palm oil (CPO) production and palm kernel, lower CPO production cost and higher CPO average price. “CPO production jumped 13 per cent in the current quarter compared with the preceding quarter, while PK production was 6.2 per cent higher. CPO production cost was lower by 10.6 per cent in the current quarter while PK production cost went up by 6.6 per cent.” Bernama