FGV posts RM36.5mil Q1 profit on stronger CPO prices
KUALA LUMPUR: FGV Holdings Bhd returned to profitability in the first quarter ended March 31, 2025 (Q1 FY25).
The company posted a net profit of RM36.5 million compared to a net loss of RM13.5 million in the same period last year, lifted by higher crude palm oil (CPO) prices.
Its revenue rose 10.8 per cent to RM5 billion for the period from RM4.5 billion previously, driven by a higher average crude palm oil (CPO) price.
FGV said the average crude palm oil (CPO) price realised for the quarter was RM4,784 per tonne, higher than RM3,907 per tonne last year.
In a statement, the company said the plantation division remained the main revenue contributor, supported by a six per cent improvement in fresh fruit bunch (FFB) yield and a 24 per cent increase in FFB price.
Despite the current higher CPO price of about RM4,700 per tonne, FGV expects the price to ease to around RM4,000 per tonne in the coming months, as supply improves with favourable weather, seasonally higher cropping cycles and the absence of festive-related demand.
Group chief executive officer Fakhrunniam Othman said the steady growth compared to the same quarter last year reflects the
resilience of operations and the positive impacts of ongoing agronomic improvements.
"While challenges persist across several business segments, we are focused on driving operational efficiency, unlocking value from underperforming assets and further enhancing integration across the group to ensure long-term, sustainable growth across plantation, oils and fats, sugar, logistics and support and the consumer products divisions," he added.
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