KUALA LUMPUR (Sept 21): BLD Plantation Bhd’s net profit for the first quarter ended June 30, 2021 (1QFY22) increased almost four times to RM16.21 million from RM4.42 million a year ago. 

It works out to earnings per share of 17.34 sen for the quarter, higher by 12.62 sen from a year ago. 

Revenue increased 36.3% to RM540.49 million in 1QFY22 from RM396.52 million a year ago. 

The company attributed the higher revenue and net profit to the higher average selling price of products. 

The group said the Covid-19 pandemic has resulted in severe disruption to the global supply chain and caused a decline in domestic consumption, all of which have affected the operational activities of the group. 

“The uncertainties arising from the Covid-19 pandemic are expected to continue to impact the palm oil demand and prices. Notwithstanding the challenging economic outlook in the near term, the group continues to place its priority on productivity improvement and enhancing operational efficiency in light of the ongoing economic volatility and uncertainty,” it said. 

Year-to-date, BLD Plantation’s share price has risen 15.13% from RM8 at the start of the year to RM9.21 at the close of Tuesday. The company is valued at RM861.14 million. 

Notably, the share price rose sharply at the start of the year and hit a high of RM9.50 on April 19 before its gradual slide to the current level of RM9.21.