Kim Loong Resources Berhad released its latest earnings recording revenue and profit before tax at RM1.24 billion and RM215.87 million respectively for the cumulative three quarters ended 31 October 2024, which were 7% and 13% higher
as compared to RM1.16 billion and RM190.43 million respectively for the corresponding period last year.
For the quarter under review, the group recorded a revenue of RM446 million slightly below compared to RM448 million registered in the previous year's quarter. Profit after tax was however higher at RM49 million versus RM47 million.
The group attributed the good performance for the current financial year-to-date to higher FFB and CPO prices by 8% and 6% respectively. On the other hand, it noted the FFB production for the current year-to date was marginally lower as compared to the corresponding period last year whilst the CPO production was 3% higher. Further information and statistics are tabulated below:
During the second quarter, the Company acquired an oil palm plantation land measuring approximately 80 hectares which is nearby its existing operations. The vacant possession of the land was taken over in June 2024, and the replanting had been completed as of the end of the current quarter.
The Group has thus far carried out replanting of 900 hectares during the current year to-date
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