KUALA LUMPUR (Feb 21): Tradewinds PLANTATION []s Bhd's earnings increased 17.5% to RM97.75 million in the fourth quarter ended Dec 31, 2011 from RM83.33 million a year ago, boosted by an increase in its palm products production.
It said on Tuesday, revenue soared 174% to RM804.23 million from RM293.45 million. Earnings per share were 15.57 sen compared to 13.24 sen for the same period last year.
The group said the higher profit was mainly due to an increase in production of palm products as well as the consolidation of Mardec Bhd group's revenue from October 2011 to December 2011 after Tradewinds Plantations completed the acquisition of Mardec on Oct 10, 2011.
For the year ended Dec 31, 2011, its net profit increased 79.9% to RM335.46 million from RM186.40 million. Revenue rose 86.8% to RM1.70 billion from RM909.13 million.
It said on Tuesday, revenue soared 174% to RM804.23 million from RM293.45 million. Earnings per share were 15.57 sen compared to 13.24 sen for the same period last year.
The group said the higher profit was mainly due to an increase in production of palm products as well as the consolidation of Mardec Bhd group's revenue from October 2011 to December 2011 after Tradewinds Plantations completed the acquisition of Mardec on Oct 10, 2011.
For the year ended Dec 31, 2011, its net profit increased 79.9% to RM335.46 million from RM186.40 million. Revenue rose 86.8% to RM1.70 billion from RM909.13 million.
