KUALA LUMPUR, Dec 28 — Kim Loong Resources Bhd posted a higher net profit of RM41.09 million for the third quarter ended Oct 31, 2021 , from RM28.84 million registered in the same quarter last year.The group achieved record-high revenue and profit before tax at RM1.21 billion and RM161.99 million respectively for the cumulative three quarters ended Oct 31, 2021, as compared to RM717.94 million and RM127.58 million respectively for the corresponding period a year ago.
“The plantation operations did not face a problem in selling its FFB production as most of the produce was supplied to mills within the group,” it said in a filing with Bursa Malaysia today. “The market condition and demand for the group’s milling products have been good and steady for the current quarter and year-to-date,” it said.
On prospects, Kim Loong expects that an additional 27,000 tonnes of FFB could be produced in FY 2022 from the 1,099.69 hectares the group has taken physical possession of on Feb 9, 2021.
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