KUALA LUMPUR (Nov 17): Tradewinds PLANTATION []s Bhd earnings jumped 96% to RM98.80 million in the third quarter ended Sept 30 from RM50.29 million a year ago, as it benefited from higher prices and production of palm products.
It said on Thursday its revenue increased 39.6% to RM333.54 million from RM238.84 million while earnings per share were 15.7 sen compared with RM238.84 million. It declared an interim dividend of 5.0 sen a share.
“The increase in revenue was mainly due to the increase in prices and production of palm products. In line with the increase in revenue, the group’s profit before tax increased to RM144.0 million for the current quarter under review from RM77.7 million for the same quarter last year,” it said.
Tradewinds Plantations said for the nine months ended Sept 30, its earnings increase 130.4% to RM237.51 million from RM103.07 million while revenue rose 46% to RM899.26 million from RM615.67 million.
It also explained the increase in revenue was mainly due to the higher prices and production of palm products.
“As a result, the group’s profit before tax improved to RM358.0 million from RM162.1 million for the preceding year corresponding period,” it said.
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