Johor Plantations Group Berhad recorded a net profit of RM75.27 million in the first quarter ended March 31, 2025 (1QFY25), a 52 percent increase compared to RM49.53 million in 2024.
The positive increase was driven by higher crude palm oil (CPO) and palm kernel (PK) prices, which rose 15.4 percent to RM340.43 in 1QFY25 from RM294.91 million in 1QFY24.
Earnings per share (EPS) widened from 2.45 sen to 3.04 sen a year ago, while CPO shipments declined 10.7 percent from 62,925 metric tonnes (MT) to 56,203 MT.
The strengthening was also supported by a 22.2 percent increase in MSM selling prices and a 65.2 percent jump in PK selling prices and higher selling price premiums.
Johor Plantations recorded a MSM selling price of RM4,969/MT reflecting a premium of RM236/MT, unlike the average cost set by the Malaysian Palm Oil Board (MPOB).
PK said the group managed to secure a premium of RM3,898/MT, which is RM269/MT above the MPOB reference price.
The organisation remains vigilant regarding operational plans and production discipline in maintaining performance despite the high stock levels and the recovery is progressing well.
Johor Plantations managing director, Mohd Faris Adli Shukery said they are confident in the outlook for this year and are committed to maintaining the annual dividend payment of 50 percent of Profit After Tax and Minority Interest (PATAMI).
Johor Plantations’ board of directors declared an interim dividend of 1 sen for the quarter and is due on June 24, 2025.
