IOI Corp Bhd announced a 15% increase in its latest quarterly net profit to RM350 million, surpassing market expectations. This robust performance was primarily driven by higher crude palm oil prices and strong contributions from its downstream manufacturing segments, signaling a positive outlook for the company's financial health and operational efficiency in the coming periods.
Plantation giant IOI Corp Bhd today announced encouraging latest quarterly results, with its net profit surging 15% year-on-year to RM350 million, surpassing analysts' consensus estimates. The company's revenue also grew by 8% to RM2.5 billion. This robust performance was primarily attributed to the sustained higher crude palm oil (CPO) prices and solid contributions from its downstream specialty fats and oleochemicals segments. IOI Corp stated that despite facing rising labor costs and ESG compliance challenges, the company successfully mitigated some adverse factors by enhancing operational efficiency and optimizing its product portfolio. The management remains optimistic about the outlook for the coming quarters, anticipating continued global demand for sustainable palm oil products.
Share: