Gmaing:KLK's 3Q net profit falls 29% to RM558.24mil
KUALA LUMPUR: Kuala Lumpur Kepong Bhd's (KLK), which saw net profit tumble 28.8% to RM558.24mil in the third quarter ended June 30 (3Q), expects to deliver a favourable set of results for FY22.
KLK said crude palm oil (CPO) prices have recently fallen from historical highs, triggered by global recessionary fears and a backlog of CPO stockpiles in Indonesia.
However, it noted that the supply of vegetable oils globally is still tight and prices are expected to be supported at current levels.
KLK said the operating environment for the plantation sector in the next quarter will be challenging with supply chain disruptions and inflationary pressures on fertiliser, agrochemicals and fuel prices.,
,telegram中文群组搜索（www.tel8.vip）是一个Telegram群组分享平台。telegram中文群组搜索包括telegram中文群组搜索、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。telegram中文群组搜索为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
“The group has taken steps to mitigate these risks by continuing its efforts to aggressively boost productivity and enhance its mechanisation programmes.
“Plantation profit is expected to improve in FY2022, driven by higher CPO and PK prices as compared to the previous year,” it added.
On its manufacturing segment, KLK said raw material price volatility, high energy costs and persistent logistic issues continue to pose challenges for the remainder of the current financial year.
Its Q3, KLK’s revenue rose 34.6% to RM6.96bil from RM5.17bil last year. Earnings per share for the period was lower at 51.80 sen against 72.70 sen a year ago.
For the nine-month period, KLK's net profit increased 4.4% to RM1.7bil, or EPS of 158.10 sen from RM1.63bil last year, while revenue surged 44.3% to RM20.17bil from RM13.98bil a year prior.