KUALA LUMPUR (Feb 24): SARAWAK OIL PALMS BHD [] recorded a 60.35% increase in earnings to RM242.95 million in the financial year ended Dec 31, 2011 from RM151.51 million last year, boosted by higher sales and production of crude palm oil (CPO) and palm kernel.
It said on Friday revenue for FY11 increased by 60.7% to RM1.17 billion from RM728.16 million a year ago. Earnings per share were 9.98 sen compared to 10.43 sen.
Sarawak Oil Palms attributed the increase in both revenue and profit to higher production and sales of CPO and palm kernel as well as from trading activities.
For the fourth quarter ended Dec 31, 2011, net profit 11.1% to RM43.32 million from RM48.74 million, due to lower CPO and palm kernel prices compared to a year ago. This was despite a 47.5% increase in revenue to RM313.57 million from RM212.59 million.
It said on Friday revenue for FY11 increased by 60.7% to RM1.17 billion from RM728.16 million a year ago. Earnings per share were 9.98 sen compared to 10.43 sen.
Sarawak Oil Palms attributed the increase in both revenue and profit to higher production and sales of CPO and palm kernel as well as from trading activities.
For the fourth quarter ended Dec 31, 2011, net profit 11.1% to RM43.32 million from RM48.74 million, due to lower CPO and palm kernel prices compared to a year ago. This was despite a 47.5% increase in revenue to RM313.57 million from RM212.59 million.
