KUALA LUMPUR: PLS Plantations Bhd's net profit rose 340 per cent to RM9.97 million in the second quarter (Q2) financial year ended December 31, 2021, from RM2.26 million a year ago on the back of higher revenue and managed costs.
The company's revenue also rose 107.1 per cent to RM57.26 million from RM27.65 million last year.
The surge in revenue and net profit was mainly attributed to the improved fresh fruit bunches (FFB) selling price realised under the plantation segment and the improved sales of frozen durian products under the manufacturing and trading segment to overseas customers.
Earnings per share (EPS) stood at 1.77 sen (fully diluted) in Q2 2021 compared to 0.33 sen in 2021.
Executive vice-chairman Tan Sri Datuk Lim Kang Hoo highlighted the company's continued execution against its plans to turn around the company.
Lim said PLS is building up its land bank to position the company and capitalise on the booming demand for durians from key import partners such as China, Australia, and the United States of America.
"In addition, PLS will also be venturing into cash crops, agriculture and aquaculture through ventures to support the country's food sufficiency efforts," he said.