It has registered a net profit of RM243.5mil, 28% higher than RM190.2mil posted in the same period last year. It attributed this profit to improvement in its plantation, manufacturing and retailing sectors.
Revenue grew 18.8% to RM1.83bil from RM1.54bil previously it said in a filing with Bursa Malaysia. As such, KLK said the group’s third-quarter pre-tax profit climbed 34% to RM320.6mil.
“The plantation sector profit improved 42.6% to RM262.7mil, benefiting from higher commodity prices with ex-mill price of crude palm oil at RM2,562 per tonne compared with RM2,330 in the previous third quarter,” it said.
It said the sector also benefited from higher price of all grades of rubber (net of cess) at RM10.97 per kg, compared with RM6.57 in the previous corresponding period.
“The manufacturing sector posted a profit of RM56.8mil, from a loss of RM18mil in the previous third quarter, boosted by the improved performance from the oleo-chemical division,” it said.
Its retailing sector achieved a profit of RM4.5mil, compared with a loss of RM28.6mil before.
For the first nine months, the company posted a net profit of RM701.3mil, 90.2% higher than RM368.8mil in the previous corresponding period. Its revenue rose 12.7% to RM5.48bil, compared with RM4.86bil previously.
For the current financial year, KLK expects its profit to be substantially higher in view of the continuing satisfactory performance from the plantation sector, the expected better returns from the oleo-chemical division and positive results from the retailing sector.
So,it looks like this Ipoh-based company is another juggernaut worth observing.
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