Malaysian plantation group climbs 30%

10 March 1998

Malaysian plantation group climbs 30%

GOLDEN Hope Plantations of Malaysia announced a 30% increase in net profits for the half year to last December to M$140.6 million (US$35.7 million) compared with M$108.5 million a year earlier.

The groups revenues increased 1.9% to M$716.8 million. Malaysias largest plantation company said the increased contribution from plantation business was mainly due to better palm prices and, to a lesser extent, higher crop production.

It said plantation profit for the second half was expected to improve in line with higher palm product prices. But crop production is expected to drop.

• Financial Times 10/03/98 page 36