Chin Teck expects stronger FY25 as profit surges, declares 36 sen dividends
'The average selling prices of FFB, CPO and PK for FY25 are expected to be higher than those in the previous financial year, and this would have a corresponding effect on the plantation profit for FY25,' it said in the notes accompanying its financial results.
Chin Teck also expects a significant increase in profit contribution from its associate, West Synergy Sdn Bhd, in the fourth financial quarter ending Aug 31, following the completion of a land disposal to Gamuda DC Infrastructure Sdn Bhd.
In the third quarter ended May 31, its net profit jumped 52.8% to RM34.6mil, or earnings per share of 37.94 sen, lifting its nine-month profit to RM84.8mil, or 92.78 sen.
Revenue climbed 20.4% to RM80.2mil, bringing cumulative revenue for the period to RM212.8mil. The increase was driven by higher average selling prices and stronger sales volumes of FFB, CPO and PK.
Chin Teck Plantations has declared a second interim single-tier dividend of 8.00 sen and a special single-tier dividend of 28.00 sen in respect of the financial year ending Aug 31. Both dividends are payable on Aug 29, with the ex-date set for Aug 13.
The counter closed up four sen to RM9.49.
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