Tags: TH Plantations
Written by Joseph Chin
Monday, 09 November 2009 18:09
KUALA LUMPUR: Lembaga Tabung Haji's PLANTATION [] arm, TH Plantations recorded lower net profit of RM12.84 million in the third quarter ended Sept 30, down from RM17.6 million a year ago.
TH Plantations reported on Monday, Nov 9 that revenue rose 6% to RM72.13 million from RM68 million a year ago.
"It was mainly contributed by higher sales volume for crude palm oil and palm kernel despite lower commodity prices supported by contribution from the two subsidiaries acquired in fourth quarter 2008," it said.
TH Plantations said profit before tax for 3Q was RM13.52 million versus RM26.26 million a year ago mainly due to lower commodity prices and higher other operating expenses. The lower profits were also lower due to the effect of adopting FRS 139 amounting to RM1.1 million for the current quarter.