KUALA LUMPUR (Feb 20): United PLANTATION []s Bhd reported a higher pre-tax profit of RM491.541 million for the financial year ended Dec 31, 2011 compared with RM349.46 million the previous year.
Revenue rose to RM1.385 billion from RM995.107 million, it said in its filing to Bursa on Monday.
The group said its major division, plantations, contributed 95.8 per cent to the profit, with its profit before tax jumping 35.5 per cent to RM471.1 million from RM347.8 million previously.
It attributed the better performance mainly to the higher selling prices of crude palm oil, palm kernel and coconuts.
Pre-tax profit for the quarter ended Dec 31, 2011 decreased to RM103.325 million from RM107.301 million. A final dividend of 30 per cent gross per share less 25 per cent tax or 22.50 sen net per share and a special dividend of 50 per cent gross per share less 25 per cent tax or 37.50 sen net per share for the year has been declared.
On its prospects this year, the group said the changes in the Indonesian export tax in September 2011 would benefit the Indonesian downstream sector and Malaysian refineries may be negatively affected by the increased competitive position enjoyed by the Indonesian refining sector.
In view of this, the group expects the current financial year not to be better than 2011. - Bernama
Revenue rose to RM1.385 billion from RM995.107 million, it said in its filing to Bursa on Monday.
The group said its major division, plantations, contributed 95.8 per cent to the profit, with its profit before tax jumping 35.5 per cent to RM471.1 million from RM347.8 million previously.
It attributed the better performance mainly to the higher selling prices of crude palm oil, palm kernel and coconuts.
Pre-tax profit for the quarter ended Dec 31, 2011 decreased to RM103.325 million from RM107.301 million. A final dividend of 30 per cent gross per share less 25 per cent tax or 22.50 sen net per share and a special dividend of 50 per cent gross per share less 25 per cent tax or 37.50 sen net per share for the year has been declared.
On its prospects this year, the group said the changes in the Indonesian export tax in September 2011 would benefit the Indonesian downstream sector and Malaysian refineries may be negatively affected by the increased competitive position enjoyed by the Indonesian refining sector.
In view of this, the group expects the current financial year not to be better than 2011. - Bernama
