Sarawak Plantation's Shares Up 4.62 Pct At Mid-Morning
KUALA LUMPUR, Aug 24 (Bernama) -- Sarawak Plantation’s share price rose 4.62 per cent at mid-morning, following its announcement of a higher net profit for the second quarter ended June 30, 2026 (2Q 2026), recently.
At 11.37 am, its shares jumped 21 sen to RM4.75, with 360,500 shares traded, making it one of the top gainers during the morning trading session.
In a Bursa Malaysia filing, the company reported a higher net profit of RM39.05 million for 2Q 2026, compared to RM26.87 million in 2Q 2025, while revenue went up to RM147.30 million from RM130.97 million previously.
“The increase in operating profit was due to higher crude palm oil (CPO) and palm kernels (PK) sales volume, coupled with higher realised average selling price for CPO and PK during the financial period,” it said.
On the company’s outlook, Public Investment Bank Bhd said the recent dry weather pattern in Sarawak has slightly affected fruit ripening across most plantation estates, delaying harvesting (from 2.8 rounds to 2.7 rounds in July).
“Consequently, management has adopted a more conservative stance on fresh fruit bunches (FFB) production growth this year, revising it down to 12-15 per cent, from 25 per cent.
“We retained our 'outperform’ call, with a higher target price of RM5.59,” it said in a note.
-- BERNAMA