KUALA LUMPUR: Genting Plantations Bhd posted sharply lower net profit of RM59 million for the second quarter ended June 30 from RM115.08 million a year ago due to lower crude palm oil (CPO) prices and lower fresh fruit bunches (FFB).</p></div>

<div class=newsTextDataWrapInner><p>It said on Aug 25 that revenue declined to RM185.96 million from RM321.93 million. Earnings per share were 7.8 sen versus 15.22 sen. </p></div>

<div class=newsTextDataWrapInner><p>For the first half, net profit was RM95.9 million versus RM229.24 million in the previous corresponding period while revenue declined to RM319.33 million against RM595 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Genting Plantations said it registered a lower CPO and palm kernel selling prices of RM 2,515 per tonne and RM 1,162 per tonne respectively in 2Q compared with RM3,534 and RM2,015 a year ago.</p></div>

<div class=newsTextDataWrapInner><p>For 1H, it achieved a CPO and palm kernel selling price of RM2,209 and RM990 respectively as against RM3,473 and RM2,010 in 1H 2008. </p></div>

<div class=newsTextDataWrapInner><p>FFB production for 2Q and 1H were 11% and 8% lower than previous year's corresponding periods. </p></div>

<div class=newsTextDataWrapInner><p>The lower contribution from the property segment for the current quarter and 1H 2009 compared with the previous year's corresponding period was due to softer property market conditions.

KUALA LUMPUR: Genting Plantations Bhd posted sharply lower net profit of RM59 million for the second quarter ended June 30 from RM115.08 million a year ago due to lower crude palm oil (CPO) prices and lower fresh fruit bunches (FFB).

It said on Aug 25 that revenue declined to RM185.96 million from RM321.93 million. Earnings per share were 7.8 sen versus 15.22 sen. 

For the first half, net profit was RM95.9 million versus RM229.24 million in the previous corresponding period while revenue declined to RM319.33 million against RM595 million.

Genting Plantations said it registered a lower CPO and palm kernel selling prices of RM 2,515 per tonne and RM 1,162 per tonne respectively in 2Q compared with RM3,534 and RM2,015 a year ago.

For 1H, it achieved a CPO and palm kernel selling price of RM2,209 and RM990 respectively as against RM3,473 and RM2,010 in 1H 2008. 

FFB production for 2Q and 1H were 11% and 8% lower than previous year's corresponding periods. 

The lower contribution from the property segment for the current quarter and 1H 2009 compared with the previous year's corresponding period was due to softer property market conditions.

Genting Plantations 2Q net profit RM59m

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<p><em><strong>More to come</strong></em></p>
...

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