United Plantation reported its first quarter results with revenue for the current quarter coming in at RM476.7 million which was higher by 3.6% as compared to RM460.0 million recorded in the corresponding quarter. UP said this was due to the increases in revenues for the plantation and refinery segments in the current quarter mainly as a result of higher CPO and PK prices.
The Group’s profit before tax at RM178.4 million for the current quarter was higher by 18.9% as compared to RM150.0 million in the corresponding quarter mainly due to higher contribution from the plantation segment. Profit after tax was RM132 million compared to RM112 million registered in the previous years quarter.
The analysis of the performance comes from plantation where its revenue was higher by 14.0% when compared to the corresponding quarter last year due to higher CPO production and higher average CPO and PK prices. Group CPO production increased by 2.9% whereas PK production decreased marginally by 1.0%. The average CPO and PK prices at RM4,179/MT and RM2,083/MT were 13.9% and 4.2% higher respectively than the corresponding quarter.
