Kuala lumpur: Hap Seng Consolidated Bhd reported a decrease in net profit to RM143.68 million for the second quarter ending June 30, 2025, compared to RM170.13 million in the same period last year. Revenue for the quarter also fell to RM1.30 billion from RM1.42 billion, influenced by reduced revenue across all divisions except automotive and building materials. According to BERNAMA News Agency, the plantation division's revenue for the current quarter was RM156.1 million, a 15% drop from RM182.8 million the previous year. This decline was largely due to lower sales volumes of crude palm oil (CPO) and palm kernel (PK), although higher average selling prices for palm products helped mitigate the impact. Meanwhile, CPO and PK production saw a slight increase, supported by higher fresh fruit bunches production resulting from improved seasonal yield trends and cropping pattern changes. In the property division, revenue decreased by 6% to RM237.3 million from RM252 million, while operating profit rose by 2% to RM 153.9 million from RM151 million the previous year. The half-year results ending June 30, 2025, showed a net profit of RM245.35 million, down from RM307.41 million the previous year, with revenue also declining to RM2.47 billion from RM2.75 billion. The group's performance was affected by a lower contribution from its property development segment, offset by higher contributions from its hospitality segment and land sales. The property development segment's revenue declined by 49% due to the depletion of property stocks in Peninsular Malaysia and fewer units sold in East Malaysia. Regarding future prospects, Hap Seng remains aware of the uncertain global market environment and its potential impact on the domestic economy. The group plans to monitor developments closely to manage challenges affecting business operations effectively. Despite the challenges, the board remains cautiously optimistic about achieving satisfactory results for the financial year ending December 31, 2025.