KUALA LUMPUR (Oct 31): CHIN TECK PLANTATION []S BHD []’s earnings surged 90.8% to RM21.84 million in the fourth quarter ended Aug 31, 2011 from RM11.45 million a year ago, boosted by the increase in average selling prices of fresh fruit bunches (FFB), crude palm (CPO) and palm kernel despite lower production.
It said on Monday that revenue rose 31.4% to RM38.37 million from RM29.20 million a year ago while earnings per share were 23.91 sen compared with 12.53 sen.
For the financial year ended Aug 31, its earnings rose 62.1% to RM76.01 million from RM46.88 million. Revenue rose at a slower pace of 28.6% to RM143.34 million from RM111.44 million.
The better financial performance was due to substantial increases in the average selling prices of FFB, CPO and palm kernel though production levels were lower.
It said on Monday that revenue rose 31.4% to RM38.37 million from RM29.20 million a year ago while earnings per share were 23.91 sen compared with 12.53 sen.
For the financial year ended Aug 31, its earnings rose 62.1% to RM76.01 million from RM46.88 million. Revenue rose at a slower pace of 28.6% to RM143.34 million from RM111.44 million.
The better financial performance was due to substantial increases in the average selling prices of FFB, CPO and palm kernel though production levels were lower.
