KUALA LUMPUR (May 30): IOI Corporation Bhd's net profit fell 15.95% to RM551.96 million in its third quarter ended Mar 31 from RM656.71 million a year ago, due to a decrease in its overall operating profit.
In a statement on Wednesday, it said that revenue had also decreased 17.53% to RM3.58 billion from RM4.34 billion. Earnings per share were 8.59 sen compared to 10.25 sen a year earlier.
Earnings per share was 8.59 sen compared to 10.25 sen previously, while net assets per share was RM1.90.
For the nine months ended March 31, IOI Corp’s net profit slipped to RM1.38 billion from RM1.687 billion, on the back of revenue RM11.89 billion.
Although global economic growth has recently showed signs of slowing, the group is optimistic that it will perform satisfactorily in the current financial year underpinned by strong plantation segment performance.
"The plantation segment is expected to perform well for the current financial year on the back of resilient crude palm oil prices," it said.
For the nine months ended Mar 31, the group recorded a 0.51% increase in revenue to RM11.89 billion from RM11.83 billion a year ago.
Meanwhile, net profit fell 17.26% to RM1.39 billion from RM1.68 billion.