25 Feb 2021 / 22:35 H.
KUALA LUMPUR: Batu Kawan Bhd posted a higher net profit of RM191.35 million for the first quarter ended Dec 31, 2020 (Q1 2021) from RM103.43 million registered in Q1 2020.
Revenue increased by 5.5 per cent to RM4.44 billion from RM4.21 billion previously, the group said in a filing with Bursa Malaysia today.
The group said its plantation segment’s profit was significantly higher, rising by 79.5 per cent to RM304.63 million on the back of higher crude palm oil (CPO) and palm kernel selling prices.
However, revenue from the segment declined by 10.2 per cent to RM1.81 billion (Q1 2020: RM2.01 billion) from lower CPO sales volume, and higher unrealised loss of RM39.02 million arising from fair value changes on outstanding derivative contracts, it said.