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Boustead Plantations Q3 2016 profit jumps compared to 2015

Thursday, 17 November 2016

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PETALING JAYA: Boustead Plantations Bhd’s net profit jumped 58% to RM37.36mil in the third quarter ended Sept 30 compared with RM23.63mil in the same quarter last year.

The plantation company attributed its positive results to better palm product prices and lower operating expenditure for shortfalls in fresh fruit bunch production.

Its revenue in the quarter rose to RM199.32mil against RM166.55mil in the previous corresponding quarter. Its earnings per share for the period rose to 2.34 sen compared with 1.48 sen previously.

Boustead Plantations has declared a dividend of five sen per share in respect of the year ending Dec 31, 2016. The dividend will be paid on Dec 14.

In the first nine months, Boustead Plantations posted an increase in net profit to RM177.49mil from RM79.6mil last year.

This was achieved on a higher revenue of RM511.22mil against RM451.8mil last year.

Source by: Internet

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