KUALA LUMPUR (Feb 20): Glenealy PLANTATION []s (Malaya) Bhd’s earnings fell 23.3% to RM17.14 million in the second quarter ended Dec 31, 2011 from RM22.34 million a year ago due to lower average crude palm oil (CPO) prices.
It said on Monday that its revenue was flat at RM70.62 million compared with RM70.06 million. Earnings per share were 15.02 sen versus 19.59 sen.
“For the 2Q FYE 2012, the group’s fresh fruit bunches (FFB) production increased by 3,829 tonnes to 93,550 tonnes as compared to the 1Q FYE 2012 of 89,721 tonnes. The group achieved higher CPO sales of 22,753 tonnes (but with a lower average CPO price of RM3,009 tonnes) for the 2Q FYE 2012 as compared to 22,362 tonnes (with a higher average CPO price of RM3,107 tonnes) for the 1Q FYE 2012.
“As a result of these, the revenue and profit before taxation for the 2Q FYE 2012 decreased to RM70.6 million (1Q FYE 2012 : RM71.7 million) and RM27.6 million (1Q FYE 2012 : RM31.6 million), respectively,” it said.
For the first half ended Dec 31, 2011, its earnings rose 21.4% to RM36.15 million from RM29.76 million. Revenue increased by 26.3% to RM142.29 million from RM112.67 million.
It said on Monday that its revenue was flat at RM70.62 million compared with RM70.06 million. Earnings per share were 15.02 sen versus 19.59 sen.
“For the 2Q FYE 2012, the group’s fresh fruit bunches (FFB) production increased by 3,829 tonnes to 93,550 tonnes as compared to the 1Q FYE 2012 of 89,721 tonnes. The group achieved higher CPO sales of 22,753 tonnes (but with a lower average CPO price of RM3,009 tonnes) for the 2Q FYE 2012 as compared to 22,362 tonnes (with a higher average CPO price of RM3,107 tonnes) for the 1Q FYE 2012.
“As a result of these, the revenue and profit before taxation for the 2Q FYE 2012 decreased to RM70.6 million (1Q FYE 2012 : RM71.7 million) and RM27.6 million (1Q FYE 2012 : RM31.6 million), respectively,” it said.
For the first half ended Dec 31, 2011, its earnings rose 21.4% to RM36.15 million from RM29.76 million. Revenue increased by 26.3% to RM142.29 million from RM112.67 million.
