By Chester Tay

Kuala Lumpur Kepong Bhd.'s fourth-quarter net profit rose 19% due to higher selling prices of crude palm oil and palm kernel.

Net profit for the July-September period rose to 208.8 million ringgit ($50.9 million), while revenue increased 5.3% from a year earlier to MYR4.00 billion, the plantation group said Wednesday.

For the full year, net profit jumped 25% to MYR772.6 million, while revenue rose marginally to MYR15.60 billion.

Kuala Lumpur Kepong said it expects its overall profit for fiscal 2021 to improve further in light of buoyant CPO prices amid tight palm oil inventories and higher exports.

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

(END) Dow Jones Newswires

11-18-20 0441ET