19-05-2025
- Business
- New Straits Times
Johor Plantations posts higher net profit of RM75.93mil in 1Q25
KUALA LUMPUR: Johor Plantations Group Bhd (JPG) posted a higher net profit of RM75.93 million in the first quarter (1Q) ended March 31, 2025, compared to RM49.97 million in the same period last year.
The surge in net profit was attributed to higher crude palm oil (CPO) and palm kernel (PK) prices, according to the group in a Bursa Malaysia filing today.
Revenue rose to RM340.43 million in 1Q 2025 compared to RM294.91 million in the same period last year.
"Meanwhile, earnings per share (EPS) in the quarter increased to 3.04 sen from 2.45 sen a year ago," JPG said in a statement today.
It also stated that CPO delivery declined to 56,203 tonnes in 1Q 2025, compared to 62,925 tonnes in 1Q 2024, and PK delivery dipped by 4.6 per cent, in line with the industry trend.
The company said despite lower production volumes, it continued to deliver strong financial results, driven by a 22.2 per cent increase in the average realised CPO selling price, a 65.2 per cent rise in PK selling price, and a higher selling price premium recorded during the quarter.
"The group's average CPO selling price stood at RM4,969 per tonne, reflecting a premium of RM236 per tonne over the Malaysian Palm Oil Board's (MPOB) average price.
"PK also commanded a premium, with an average price of RM3,898 per tonne, RM269 per tonne above the MPOB reference price," it said.
JPG declared an interim dividend of 1.00 sen per share for the quarter, payable on June 24, 2025.
The group remains cautiously optimistic about its operational plans and production discipline to sustain resilient performance, given the elevated stock levels and the gradual recovery in demand.
"While CPO prices may continue to face near-term pressure amid broader global uncertainties, the group maintains a prudent outlook and is strategically positioned to capture value as market fundamentals strengthen in the quarters ahead," it said.
-- BERNAMA
