KUALA LUMPUR, Sarawak Oil Palms Bhd’s net profit for the second quarter (Q2) ended June 30, 2021 surged to RM98.32 million from RM38.34 million in the same period last year.

Revenue jumped to RM949.05 million from RM626.06 million, while its basic earnings per share rallied to 17.20 sen from 6.72 sen.

Both increases in revenue and profit were mainly attributed to higher average prices of palm oil products.

“The performance of the group would continue to be driven by the fresh fruit bunches production and palm products price movement which is dependent on the world edible oils market, the movement of the ringgit and the economic situation,” it said in a stock exchange filing with Bursa Malaysia.

At the close, shares of Sarawak Oil Palms advanced 1.35 per cent to RM3.76 with 151,400 shares transacted.

Source: BERNAMA News Agency