IOI Corp 1Q25 profit surges on higher palm oil prices

Quick Summary:

IOI Corp Bhd, whose net profit more than doubled in the first quarter ended Sept 30, 2024 (1Q25), expects a "satisfactory” performance for the remaining quarters of its financial year 2025 (FY25), supported by higher crude palm oil (CPO) prices and improving yields.

This was mainly attributed to higher contributions from the plantation segment, partially offset by lower contributions from the resource-based manufacturing segment.

Meanwhile, in its resource-based manufacturing segment, profit contribution rose to RM107.9mil for 1Q25, up from RM57.7mil in 1Q24.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaIndonesiaSingapore

Topics: /Business/Business News PlantationPerformance CPOPrices RevenueGrowth PalmOilDemand YieldImprovement RefiningMargins Corporate News IOICorp

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 00:00:00 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 650 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © The Star

News ID: 23896181

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