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    KLK   MYL2445OO004

KUALA LUMPUR KEPONG

(KLK)
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Kuala Lumpur Kepong 2Q Net Profit Plunged 80%

05/27/2020 | 05:55am EDT

By Chester Tay

Kuala Lumpur Kepong Bhd.'s second-quarter net profit plunged from a year earlier, due to foreign-exchange losses arising from a weaker Indonesian rupiah against the U.S. dollar and the Malaysian ringgit as investors flocked to safe-haven assets amid the Covid-19 crisis.

Net profit slumped 80% to 27.9 million ringgit ($6.4 million), while revenue declined 3.5% to MYR3.81 billion, the plantation group said Wednesday.

First-half net profit declined 50% to MYR195.1 million, while revenue fell 1.8% to MYR7.88 billion.

Kuala Lumpur Kepong said crude palm oil prices are anticipated to remain under pressure in the second half due to economic uncertainties resulting from the pandemic.

While the company expects profit from the plantation segment to remains "satisfactory" for 2020, it cautioned that the oleochemical division may face a challenging operating environment.

 

Write to Chester Tay at chester.tay@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. 0.05% 36.785 Delayed Quote.137.77%
BATU KAWAN -0.10% 19.34 End-of-day quote.8.04%
CRUDE PALM OIL 0.00% 879.75 End-of-day quote.3.77%
EURO / US DOLLAR (EUR/USD) -0.66% 1.19163 Delayed Quote.-1.79%
KUALA LUMPUR KEPONG 0.87% 20.9 End-of-day quote.-11.74%
LONDON BRENT OIL -1.33% 72.84 Delayed Quote.43.56%
WTI -1.15% 70.73 Delayed Quote.50.22%
All news about KUALA LUMPUR KEPONG
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06/09Malaysia's KLK offers $372 mln for majority stake in IJM Plantations
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02/19KUALA LUMPUR KEPONG : Ex-dividend day for final dividend
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2020KUALA LUMPUR KEPONGá : KL-Kepong Reduces Stake in Equatorial Palm Oil to 49.08% ..
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2020KUALA LUMPUR KEPONG : Ex-dividend day for interim dividend
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More news
Financials
Sales 2021 20 026 M 4 840 M 4 840 M
Net income 2021 1 214 M 293 M 293 M
Net Debt 2021 3 115 M 753 M 753 M
P/E ratio 2021 19,0x
Yield 2021 2,66%
Capitalization 22 542 M 5 445 M 5 448 M
EV / Sales 2021 1,28x
EV / Sales 2022 1,29x
Nbr of Employees 40 000
Free-Float 24,3%
Chart KUALA LUMPUR KEPONG
Duration : Period :
Kuala Lumpur Kepong Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends KUALA LUMPUR KEPONG
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Average target price 27,19 MYR
Last Close Price 20,90 MYR
Spread / Highest target 67,5%
Spread / Average Target 30,1%
Spread / Lowest Target 14,8%
EPS Revisions
Managers and Directors
NameTitle
Oi Hian Lee Chief Executive Officer & Executive Director
Sean Meng Leong Group Chief Financial Officer
Muhammad Alias bin Muhammad Ali Chairman
Eng Khoon Yeoh Senior Independent Non-Executive Director
Azlan bin Mohammed Zainol Independent Non-Executive Director
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DUPONT DE NEMOURS, INC.12.77%42 672
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EVONIK INDUSTRIES AG7.23%16 156