KUALA LUMPUR, Nov 26 — Sarawak Oil Palms Bhd’s net profit for the third quarter ended September 30, 2020 (Q3 20) rose to RM73.83 million from RM30.90 million in the same period last year.
Revenue improved 11 per cent to RM794.88 million from RM716.31 million a year earlier, mainly attributed to higher average realised prices of palm products, it said in a filing with Bursa Malaysia today.
Meanwhile, the company registered a total revenue of RM1.9 billion for the nine months ended September 30, 2020 against RM2 billion reported in the corresponding period in 2019, representing a decrease of five per cent.
This, it said, was due mainly to lower volume of palm products sold.
On prospects, the company said it would continue to be driven by the fresh fruit bunches (FFB) production and palm products price movement which is dependent on the world edible oil market, movement of the ringgit, and economic situation. — Bernama
