The Star
Tuesday - November 18, 2008
Petaling Jaya
United Plantations Bhd posted its best ever quarterly profit in the three months ended September, as higher production and stronger crude palm oil (CPO) prices boosted third quarter net profit 58% to RM89.95mil.

Revenue jumped to RM300mil from RM183mil previously.

Nine-month net profit was RM238mil, or 114.5 sen per share, versus RM108mil, or 51.9 sen per share, a year ago.

“Under the company’s forward sales policy, some CPO was sold forward for 2008 thus cushioning the impact of the prevailing lower CPO prices.

“We expect 2008 to be a satisfactory year,’’ it said in a statement.

“The company’s production of CPO and palm kernel for the first three quarters of 2008 has been encouraging.

“However, production in the fourth quarter is trending lower with the beginning of the lower production period normally experienced during November, December and January,’’ it added.
Shares in United Plantations closed 10 sen lower at RM10.40 yesterday.

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