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Tuesday, February 22, 2011

Genting Plantation Pre-tax Profit Jumps To RM439 Million In 2010

KUALA LUMPUR, Feb 22 (Bernama) -- Genting Plantation Bhd (GPB) posted a higher pre-tax profit of RM439.7 million for the financial year ended Dec 31, 2010 compared with RM301.93 million registered in 2009.

Revenue jumped to RM988.5 million, during the period under review, from RM755.5 million previously.

The stronger 2010 results were principally due to higher palm product prices and a three per cent, year on year, increase in fresh fruit bunch production, as well as gains accrued from dilution of shareholdings.

On outlook, Genting Plantation said prevailing favourable palm product prices and anticipated increase in crop production were expected to underpin improvement in the group's performance in the current financial year.

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