Positive year-on-year performance driven by booming demand for durian and steady contributions from sale of fresh fruit bunches
Key Financial and Performance Highlights (Q3FY2022 versus Q4FY2021):
- Profit after tax at RM13.3 million, up by 411.5%
- Improved revenues by almost 1.6x to RM32.1 million, up by 169.8%
- Profit before tax is 455.1% higher, at RM16.1 million
KUALA LUMPUR - PLS Plantations Berhad today announced a 411.5% jump in their net profit for their third quarter financial performance for the period ended 31 March 2022 (Q3FY2022). The Company recorded a net profit before tax (PBT) of RM16.1 million, 455.1% higher compared to RM2.9 million recorded in the corresponding quarter for the period ended 31 March 2021 (Q4FY2021). PLS Plantations' net profit after taxation and minority interest (PATMI) in Q3FY2022 came in at RM12.4 million, 416.7% higher than RM2.4 million in Q4FY2021. Total revenue climbed to RM32.1 million, an increase of 169.8% from RM 18.9 million in Q4FY2021. The increase in revenue and PBT were mainly attributed to the improved contribution made from the sales of fresh fruit bunches (FFB), and frozen durian products from international markets, especially China, as well as the collection of progress payment monies generated under the construction arm.
PLS Plantations' PATMI for the quarter stood at RM12.4 million, 67.6% higher than RM7.4 million recorded in the preceding quarter ended 31 December 2021 (Q2FY2022). However, total revenue recorded in Q3FY2022 saw a drop of 44% to RM32.1 million, compared to RM57.3 million in Q2FY2022. The lower revenue for the period was attributed to the off-peak durian cycle that resulted in lower harvest numbers. Earnings per share (EPS) for the quarter stood at 2.88 sen (fully diluted) compared to 0.58 sen in Q4FY2021.
PLS Plantations' Executive Vice Chairman, Tan Sri Dato' Lim Kang Hoo highlighted, "PLS is working hard to continue the strong execution of our turnaround plan in order to meet our targets and aspirations. In addition to diversifying our revenue streams and improving our operational mechanisms, we have been building the organisation's bench strength by bringing onboard experienced talent from the industry as well as promoting from within, capable members of the company to senior management positions. Growing our staff strength is crucial - to which PLS has been prioritising the hiring of bright, local talent as the Company ventures into other agricultural and cash crops goals."
About PLS Plantations Berhad
PLS Plantations was incorporated in Malaysia in 1987 and was listed on the Second Board of Kuala Lumpur Stock Exchange in 1994. Currently listed on the Main Board of Bursa Malaysia Securities Berhad, PLS and its subsidiaries are involved in the management and operation of forest, oil palm and durian plantations, as well as the processing, distribution and sale of durian products.
Forward-Looking Statements
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PLS PLANTATIONS 
