<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 26): Sarawak Plantation Bhd’s net profit for the financial year ended Dec 31, 2023 fell 34% to RM64.44 million from RM96.71 million, on the back of a decrease in operating profit due to lower realised average selling prices.</p></div>

<div class=newsTextDataWrapInner><p>In its bourse filing on Monday, the planter said revenue for the year dropped 19.7% to RM570.68 million from RM710.91 million.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share for the year dropped to 23.10 sen from 34.66 sen.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>For the fourth quarter, Sarawak Plantation posted a net profit of RM8.74 million versus RM5.13 million on the back of revenue RM159.22 million against RM158.08 million.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share for the quarter rose to 3.13 sen from 1.84 sen.</p></div>

<div class=newsTextDataWrapInner><p>The company did not declare any dividend for the quarter.</p></div>

<div class=newsTextDataWrapInner><p>Reviewing its performance, Sarawak Plantation attributed the lower annual revenue to lower realised average selling price despite higher sales volume of crude palm oil (CPO) and palm kernel (PK).</p></div>

<div class=newsTextDataWrapInner><p>It said average selling prices of CPO had decreased approximately by 24.4% and those of PK by 33.4%.</p></div>

<div class=newsTextDataWrapInner><p>However, sales volumes of CPO had increased by approximately 8.5% and those of PK by 11.1% for the current financial year.</p></div>


Sarawak Plantation Bhd’s net profit for the financial year ended Dec 31, 2023 fell 34% to RM64.44 million from RM96.71 million, on the back of a decrease in operating profit due to lower realised average selling prices.

Sarawak Plantation FY2023 net profit down 34% to RM64.44m

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<p><em><strong>More to come</strong></em></p>

<p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/713998" target="_blank">Malaysia must prioritise investments in healthcare, pharmaceuticals, and infrastructure supporting active ageing — PM</a></em></p>
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