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Thursday, August 25, 2011

Genting Plantations 2Q net profit surges 96% to RM139.9m

Genting PLANTATION []s Bhd net profit for the second quarter ended June 30, 2011 surged 96% to RM139.9 million from RM71.38 million a year earlier, due mainly to higher palm products prices and increased FFB production.

It said on Wednesday, Aug 24 that revenue for the quarter rose 57.6% to RM364.38 million from RM231.17 million in 2010.

Earnings per share rose to 18.44 sen from 9.41 sen, while net assets per share was RM4.03.

“Barring unforeseen circumstances, the performance of the group for the 2011 financial year is expected to be better than that of the previous financial year,” it said.

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