KUALA LUMPUR, Feb 29 — Kulim (Malaysia) Bhd chalked-up a pre-tax profit of RM162.51 million for the financial year ended 2015, up 70.1 per cent from RM95.53 million in 2014.

Annual revenue stood at RM1.48 billion from RM1.09 billion, previously.

Pre-tax profit for the fourth quarter, however, slipped to RM2.11 million compared with RM23.26 million a year earlier.

“The pre-tax profit for the fourth quarter decreased 90.90 per cent, mainly due to the provision of doubtful debts amounting to RM21.93 million recorded at E.A Technique (M) Bhd,” it said in a filing to Bursa Malaysia today.

Revenue rose to RM300.72 million from RM283.63 million previously.

Going forward, it said the outlook for palm oil prices remained favourable and expected to contribute significantly to the group’s earnings.

The group is also confident that fertiliser costs, its main expenditure item, would be well contained without compromising on its norm and adherence to the agricultural standards.

“The major concern and challenges remain on the availability and the productive management of the plantation workers,” it said.

On the oil and gas support services, Kulim said it registered improved performance as all vessels ordered from long-term contracts had been progressively delivered on term charter rate and were operating smoothly. — Bernama