KUALA LUMPUR, February 22 – PLS Plantations Berhad (“PLS Plantations” or the “Company”) today announced a 340% jump in the net profit for their second quarter financial performance for the period ended 31 December 2021 (Q2FY2022).
The Company recorded a net profit after tax of RM9.97 million, a 4.4 times jump from RM2.26 million for the same quarter of the preceding year ended 31 December 2020 (Q2FY2021) on the back of higher revenue and managed costs.
For the same quarter, PLS Plantations’ profit before tax (“PBT”) stood at RM14.0 million, 265% higher compared to RM3.84 million posted for the same period, Q2FY2021, due to higher sales and an increase in the profit after tax margin of 17.4% up from 8.2% for the period.
The surge in revenue and profit before tax were mainly attributed to the improved Fresh Fruit Bunches (“FFB”) selling price realised under the plantation segment, and the improved sales of frozen durian products under the manufacturing and trading segment to overseas customers.
The Company, via its subsidiary continuously expanding their contracting and plantation development. Earnings per share stood at 1.77 sen (fully diluted) in Q2FY2022 compared to EPS of 0.33 sen in Q2FY2021.
PLS Plantations’ Executive Vice Chairman, Tan Sri Dato’ Lim Kang Hoo highlighted, “We continue to execute against our plans to turnaround the company. In addition to strengthening our operations and revenue streams, we are building up our land bank to position the company and capitalise on the booming demand for durians, from key import partners such as China, Australia, and the United States of America, to name a few. In addition, PLS will also be venturing into cash crops, agriculture and aquaculture through ventures to support country’s food sufficiency efforts.”
