Kim Loong Reports Record Quarterly Profit of RM49.96m in 3Q
KIMLoong Resources Bhd posted a record quarterly net profit of RM49.96 million for the third quarter ended October 30, 2024 (3Q25), driven by higher average selling prices in its plantation and palm oil milling divisions.
This marks a 4.1% year-on-year increase from RM47.97 million in 3Q24, while revenue slightly declined to RM446.38 million from RM448.68 million.
For the nine months of FY2025, Kim Loong’s net profit rose 13.1% to RM138.98 million, while revenue grew 6.9% to RM1.24 billion.
As of October 2024, the company’s total planted area was 15,838 hectares, with 900 hectares replanted during the year.
Despite a 3-5% projected decline in fresh fruit bunch (FFB) production for FY2025 due to lower yields in Sabah, Kim Loong expects to process nearly 1.6 million metric tonnes of FFB in its palm oil mills.
The company also anticipates that the average crude palm oil (CPO) price will remain above RM5,000 per metric tonne for the final quarter of FY2025.