PETALING JAYA: United Malacca Bhd
expects fresh fruit bunch (FFB) production to increase in the financial year 2023 (FY23), on the back of higher yield performance, but the group cautioned against rising operating costs due to higher logistics, material and labour costs.
For the third quarter ended Jan 31, 2023 (3Q23), the plantation group’s revenue increased by 9.4% year-on-year (y-o-y) to RM161.6mil.
Earnings, however, fell by 58% y-o-y to RM12.7mil or earnings per share of six sen due to lower average crude palm oil (CPO) and palm kernel (PK) prices, as well as higher cost of production, particularly with regards to raw material and labour.
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