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    KLK   MYL2445OO004

KUALA LUMPUR KEPONG

(KLK)
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Kuala Lumpur Kepong Third-Quarter Profit Surges on Higher Palm Oil Prices, Output and Forex Gains

08/19/2020 | 06:01am EDT

By Chester Tay

Kuala Lumpur Kepong Bhd.'s net profit for the third quarter ended June 30 jumped more than seven times from a year earlier, driven by improved palm oil prices and production, coupled with foreign currency gains from a stronger Indonesian rupiah.

Net profit for the April to June period ballooned to 368.7 million ringgit ($88.1 million), while revenue grew 0.2% to MYR3.71 billion, the plantation group said in a stock exchange filing Wednesday.

Net profit for the nine-month period rose 27% from a year earlier to MYR563.8 million, despite revenue dropping 1.2% to MYR11.6 billion.

For fiscal 2020, the group expects overall profit to improve in spite of uncertainties arising from the Covid-19 pandemic, as crude palm oil prices have improved, underpinned by declining palm oil inventories and a recovery in demand with the re-opening of global economies.

 

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

 

Stocks mentioned in the article
ChangeLast1st jan.
CRUDE PALM OIL 0.00% 879.75 End-of-day quote.3.77%
KUALA LUMPUR KEPONG -1.24% 20.72 End-of-day quote.-12.50%
LONDON BRENT OIL 0.41% 74.15 Delayed Quote.41.35%
WTI 0.52% 71.932 Delayed Quote.47.40%
All news about KUALA LUMPUR KEPONG
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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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More news
Financials
Sales 2021 20 026 M 4 847 M 4 847 M
Net income 2021 1 214 M 294 M 294 M
Net Debt 2021 3 115 M 754 M 754 M
P/E ratio 2021 18,9x
Yield 2021 2,68%
Capitalization 22 348 M 5 426 M 5 408 M
EV / Sales 2021 1,27x
EV / Sales 2022 1,28x
Nbr of Employees 40 000
Free-Float 24,3%
Chart KUALA LUMPUR KEPONG
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Kuala Lumpur Kepong Technical Analysis Chart | MarketScreener
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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 20,72 MYR
Spread / Highest target 68,9%
Spread / Average Target 31,2%
Spread / Lowest Target 15,8%
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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