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New Straits Times
27-05-2025
- Business
- New Straits Times
IOI Corp 3Q net profit soars to RM262.3mil on strong plantation performance
KUALA LUMPUR: IOI Corporation Bhd's net profit for the third quarter ended March 31, 2025 (3Q) jumped by 113 per cent to RM262.30 million from RM123.10 million in 3Q a year ago. The rise in profit was due mainly to higher contribution from the plantation segment, partially offset by lower contribution from the resource-based manufacturing segment. Revenue increased by 11 per cent to RM2.73 billion from RM2.46 billion in the same period a year ago, said the leading global integrated and sustainable palm oil player in a filing with Bursa Malaysia. The plantation segment's 3Q profit before tax (PBT) of RM310.6 million was 27 per cent higher than 3Q PBT a year ago of RM244.9 million, due to higher crude palm oil (CPO) and palm kernel prices realised and higher share of results from associates, but was partially offset by higher CPO stock level, lower fresh fruit bunches (FFB) production and lower oil extraction rate. "The resource-based manufacturing segment profit in the quarter reviewed was RM71.1 million as compared to profit in 3Q of RM44.4 million previously, due mainly to reduced contribution from the oleochemical sub-segment with lower sales volume and lower share of results from associate, but was partially mitigated by higher contribution from the refinery sub-segment with higher margin," IOI Corp said. For the cumulative nine-month period, the group posted a higher net profit of RM1.08 billion from RM762.50 million in the same period a year ago, while revenue increased to RM8.37 billion from RM7.06 billion previously. IOI Corp projects the CPO price to range between RM3,700 and RM4,000 per tonne for the rest of its financial year ending June 30, 2025 (FY2025). For the plantation segment, FFB production for 4Q FY2025 is expected to recover significantly over 3Q FY2025, and anticipates that this higher FFB production will help sustain a steady financial performance, despite the lower CPO price expected for 4Q FY2025. "Overall, the group expects its operating and financial performance for 4Q FY2025 to be satisfactory," it added. -- BERNAMA
BusinessToday
13-05-2025
- Business
- BusinessToday
Service Sector Revenue In Q1 Grows 6% YoY To RM630 Billion
The total revenue of the Services sector recorded RM630.0 billion, registering a positive growth of 6.0 per cent as compared to the same quarter in 2024. On a quarterly basis, total revenue registered a growth of 0.3 per cent. The Department of Statistics said the total number of persons engaged in this sector amounted to 4.5 million persons, an increase of 1.9 per cent against the corresponding period of the previous year. For quarterly comparison, the number of persons engaged rose 0.3 percent. Salaries and wages, meanwhile, posted a growth of 4.1 percent to reach RM33.6 billion compared to the same quarter a year ago. Compared with the fourth quarter of 2024, salaries and wages increased 1.0 percent. Meanwhile, Malaysia's e-commerce income reached RM310.6 billion, reflecting an increase of 3.4 per cent year-on-year. For a quarter-on-quarter basis, e-commerce income saw an increase of 0.1 percent. Related
