Chin Teck 2Q net profit falls 33.58% to 9.19m

By surin murugiah of theedgemlaysia.com | The Edge Malaysia – Sat, Apr 28, 2012

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KUALA LUMPUR (April 28): Chin Teck Plantations Bhd net profit for the second quarter ended Feb 29 2012 fell 33.58% to RM9.19 million from RM13.83 million a year earlier due mainly to substantial decrease in profit contribution from its associates.

The company said on Friday that its revenue for the quarter fell 2.44% to RM28.22 million from RM28.93 million in 2011 due to lower average selling prices of FFB, crude palm oil and palm kernel.

Earnings per share fell to 10.05 sen from 15.14 sen, while net assets per share was RM6.62.

For the six moths ended Feb 29, Chin Teck’s net profit fell to RM24.48 million from RM2998 million on the back of revenue of RM60.69 million,.

 

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