Mixed performance from plantation players likely

TheStar Fri, May 17, 2024 12:00am - 1 month View Original


PETALING JAYA: Plantation companies are expected to deliver a mixed bag for the quarter ended March 31, 2024 in the current results season.

This trend is mainly attributable to a seasonally low production season and subdued downstream earnings for the quarter under review, according to Hong Leong Investment Bank (HLIB) Research.

In its first quarter (1Q24) results preview report, the brokerage noted that planters under its coverage had registered quarter-on-quarter declines of 13.2% to 29.5% in fresh fruit bunch (FFB) output during the quarter.

“Seasonally lower production, albeit partly mitigated by higher palm product prices, likely dragged upstream earnings in 1Q24,” HLIB Research said.

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