KUALA LUMPUR: Innoprise Plantations Bhd
expects to post "reasonable good profit" in the coming months on rising palm oil production and higher selling prices that helped the company to register a turnaround in the second quarter.
The planter, on Monday announced it made a net profit of RM10mil in three-month ended June 30 compared with a net loss of RM2.2mil a year ago.
Revenue jumped to RM34.96mil from RM23.89mil previously, the company said in a filing with Bursa Malaysia today.
Fresh Fruit bunch (FFB) production rose 34% to 62,163 tonnes, while the average selling price of crude palm oil (CPO) was 25% higher at RM2,433 a tonne.
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