FGV Holdings Berhad recorded an operating profit of RM2.33 billion, representing an increase of 27 percent compared to the financial year 2021 making it a top achievement attributed to the increase in palm products’ margins following the higher average Crude Palm Oil (CPO) price realised by 32 percent, coupled with higher throughput and tonnage carried by the Logistics Sector.
The group registered its PBT at RM1.95 billion compared to RM1.71 billion in the same period last year on the back of revenue growth of 31 percent to RM25.56 billion from RM19.57 billion recorded last year. The result was partially offset by the losses incurred in the Sugar Sector mainly due to higher production costs by 22 percent.
For the quarter under review ended 31 December 2022 (4Q FY2022), the Group’s operating profit of RM545 million was due to higher CPO cost ex-mill from the Palm Upstream Division, lower average selling price and production volume from the Rubber Division, and higher production cost of sugar. Nevertheless, the Logistics Sector saw an increase in profits due to higher throughput handled and tonnage carried
The Group also announces a final dividend payment of 11 sen per share, translating to a dividend payout of RM401.30 million. The Group declared a total dividend payment of 15 sen per share for FY2022.added.
