FGV Holdings Bhd announced a 45% year-on-year surge in its fourth-quarter net profit, reaching RM210 million, exceeding market expectations. This impressive performance was primarily attributed to higher crude palm oil (CPO) prices and significant improvements in operational efficiency across its plantation and logistics segments.
Plantation giant FGV Holdings Bhd reported robust fourth-quarter results, with net profit soaring 45% year-on-year to RM210 million, significantly exceeding analysts' forecasts. Revenue also saw an 18% increase to RM5.2 billion. The company attributed this positive performance to higher crude palm oil (CPO) prices and improved operational efficiencies across its refining and logistics segments. Despite facing increased labour costs, management expects profitability to remain stable moving forward, supported by ongoing automation and optimization initiatives. FGV's shares rose 3.5% to RM1.48 following the earnings announcement, reflecting investor confidence in its future outlook.
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