Genting Plantations Bhd's pre-tax profit for the year ended Dec 31, 2011 hit a record RM601.3 million, up 37 per cent from a year earlier. Revenue was 35 per cent higher year-on-year at RM1.34 billion in 2011, while earnings per share increased 36 per cent to 58.25 sen.
In its filing to Bursa Malaysia, the group said its strong performance in 2011 was underpinned primarily by higher palm product prices and higher production of fresh fruit bunches (FFB).
The group achieved average selling prices for crude palm oil and palm kernel of RM3,240 per metric tonne and RM2,235 per metric tonne respectively in 2011, an increase of 18 per cent and 27 per cent respectively over the previous year.
Moving ahead, the group said its performance will be influenced by, among others, the direction of palm products prices, which in turn would be mainly determined by factors such as global economic prospects, changes in weather patterns, the regulatory environment in major consuming countries and the supply of competing crops.
On the production front, growth in the group's FFB output will be underpinned mainly by the Indonesia operations, with more areas planted in previous years progressively reaching maturity over the course of the year. -- Bernama
In its filing to Bursa Malaysia, the group said its strong performance in 2011 was underpinned primarily by higher palm product prices and higher production of fresh fruit bunches (FFB).
The group achieved average selling prices for crude palm oil and palm kernel of RM3,240 per metric tonne and RM2,235 per metric tonne respectively in 2011, an increase of 18 per cent and 27 per cent respectively over the previous year.
Moving ahead, the group said its performance will be influenced by, among others, the direction of palm products prices, which in turn would be mainly determined by factors such as global economic prospects, changes in weather patterns, the regulatory environment in major consuming countries and the supply of competing crops.
On the production front, growth in the group's FFB output will be underpinned mainly by the Indonesia operations, with more areas planted in previous years progressively reaching maturity over the course of the year. -- Bernama
