Wednesday, November 29

Th plantation 1Q pre-tax profit drops sharply to RM5.05 mln


KUALA LUMPUR: TH Plantations Bhd’s (TH Plantation) pre-tax profit for the first quarter ended March 31, 2013 dropped sharply by 80 per cent to RM5.05 million from RM25.10 million recorded in the same quarter last year.

Revenue came off nine per cent to RM89.45 million, during the period under review, from RM95.05 million registered previously due to lower average commodity prices.

In a filing to Bursa Malaysia yesterday, the company said earnings per share dwindled to 0.44 sen from 2.53 sen in the corresponding quarter last year.

TH Plantations is cautiously optimistic of being able to sustain its current performance. — Bernama