FGV Holdings today announced better-than-expected quarterly earnings, with net profit up 25% year-on-year, primarily driven by sustained higher crude palm oil (CPO) prices and improved operational efficiency. The company's shares rose 3.1% in response.
FGV Holdings Bhd today announced its latest quarterly results, reporting an encouraging net profit of RM185 million, a 25% year-on-year increase, surpassing market expectations. This strong performance is primarily attributed to sustained higher international crude palm oil (CPO) prices and significant improvements in the company's cost control and operational efficiency. The report indicated an average realized CPO price of RM4,200 per tonne, significantly higher than the previous year. Boosted by this positive news, FGV's share price rose 4 sen or 3.1% today, closing at RM1.33. Company management stated that CPO prices are expected to remain at healthy levels in the coming quarters, with plans to enhance production and profit margins through further modernization and sustainable development initiatives. This performance also sends a positive signal to other plantation companies.
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