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PETALING JAYA: Kuala Lumpur Kepong Bhd’s net profit for the third quarter ended June 30, 2021 increased 112.62% to RM783.9 million from RM368.7 million in the same quarter of the previous year mainly attributed to corporate income from non-operational items.

Besides, plantation segment’s profit increased 87.6% to RM999.4 million, manufacturing segment’s profit jumped 89.2% to RM538.1 million, oleochemical division registered a 94.5% increase in profit to RM536.2 million while other manufacturing units reported a lower profit of RM1.9 million. Property profit surged to RM54.2 million supported by higher revenue of RM128.4 million.

Revenue for the quarter increased 39.38% to RM5.17 billion from RM3.71 billion in the corresponding quarter previously.

Net profit for the nine months period increased 189.43% to RM1.63 billion from RM563.79 million, which had taken into consideration of the non-operational items which are included under corporate income. Revenue increased 20.61% to RM13.9 billion from RM11.59 billion.

The group paid an interim single tier dividend of 20 sen per share to its shareholders on Aug 3, bringing the total dividend for the current financial year-to-date to 20 sen per share.

On its current year prospects, KLK said its year-to-date profit was boosted by non-operational gains derived from fair value surplus of RM324.3 million on deemed disposal of an associate Aura Muhibah and surplus of RM158.4 million from sales of land and government acquisitions. Plantation profit for FY2021 will be significantly higher as CPO and PK selling prices are much better compared to last financial year.

It said oleochemical division has performed well and is expected to sustain its performance in the fourth quarter despite a challenging market environment. For FY2021, this division’s profit is expected to be higher than the previous financial year.

On the whole, the group’s profit for FY2021 will improve substantially.

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