Boustead Plantations Berhad Records Q1 PAT of RM3 Mil23 May 2023
Boustead Plantations records Q1 net profit of RM5.2mil23 May 2023
KUALA LUMPUR (May 23): Boustead Plantations Bhd’s net profit tumbled 98.8% to RM5.22 million or 0.23 sen per share for the first quarter ended March 31, 2023 (1QFY2023), due to a significant drop in palm product prices and the adverse impact of fresh fruit bunches (FFB) valuation.
In comparison, the group posted a net profit of RM435.16 million or 19.43 sen per share for 1QFY2022, on the back of a RM364.1 million gain from the disposal of 664ha of plantation land in Johor.
Boustead Plantations declared a first interim dividend of one sen per share, to be paid on June 23.
Source: The Edge