IOI Corp announced a 15% increase in Q4 net profit to RM350 million, surpassing market expectations. Stable palm oil prices and improved production efficiency were key drivers, bolstering investor confidence in the plantation giant.
Plantation giant IOI Corp Bhd today reported robust fourth-quarter results, with net profit surging 15% year-on-year to RM350 million, surpassing analysts' consensus estimates. The company attributed this growth primarily to the relatively stable palm oil prices and strong performance from its downstream operations. Additionally, the group's continuous improvements in production efficiency also contributed to its profitability. IOI Corp's shares saw a modest gain of 0.5% to RM4.15 following the earnings announcement. Management expressed cautious optimism for the year ahead, expecting palm oil prices to remain at reasonable levels and continuing to focus on sustainability and cost control. This positive earnings report injected confidence into Malaysia's plantation sector.
Share: