IOI Corporation Bhd reported robust fourth-quarter results, with net profit surging 15% year-on-year to RM350 million, surpassing market expectations. The strong performance was attributed to higher crude palm oil prices and improved downstream segment contributions. Following this positive news, the company's shares climbed 2.5% today, reflecting investor confidence in its outlook.
IOI Corporation Bhd today announced encouraging financial results for its fourth quarter, with net profit surging 15% year-on-year to RM350 million, surpassing analysts' consensus expectations. This robust performance was primarily attributed to higher crude palm oil (CPO) prices and improved contributions from its downstream business segment. Company management stated that despite a challenging global economic environment, the group successfully achieved profit growth through effective cost management and enhanced operational efficiency. Driven by this positive news, IOI Corp's share price climbed 2.5% in today's trading, closing at RM4.20, indicating investor confidence in its future earnings prospects. Analysts have generally upgraded their ratings and target prices for IOI Corp, anticipating that its efforts in sustainability and value chain optimization will continue to yield positive returns.
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