Boustead Plantations Delivers Strong Profit After Tax of RM34 Million For FY2020
24 March 2021
Boustead Plantations posts profitable 4Q, thanks to higher palm product prices
24 March 2021KUALA LUMPUR: Boustead Plantations Bhd posted a third straight quarter of profit growth in the three-month ended Dec 31 boosted by rising crude palm oil prices.
The group said palm oil output was expected to remain below potential in 2021 as the shortage of labour remains the key challenge for the plantation industry.
“The Group’s prospects for the coming year are largely influenced by the crop production and selling prices,” it said in a filing with Bursa Malaysia today.
Boustead Plantations posted a net profit of RM27.45mil, or 1.23 sen a share in the last quarter on revenue of RM227.6mil.
For the full year, the company made a net profit of RM43mil, or 1.92 sen a share.
It has declared a second interim dividend payout of 0.5 sen a share.
Source: The Star
