KUALA LUMPUR (Dec 27): Kim Loong Resources Bhd (KL:KMLOONG) reported its highest ever quarterly net profit of RM49.96 million in its third quarter ended Oct 30, 2024 (3QFY2025), helped by higher average selling prices in both its plantation and palm oil milling divisions.

On a year-on-year comparison, Kim Loong’s net profit grew 4.1% compared to RM47.97 million in 3QFY2024, while quarterly revenue fell marginally to RM446.38 million from RM448.68 million a year ago.

Quarterly earnings per share rose to 5.12 sen from 4.95 sen a year ago.

For the nine months of FY2025, the plantation company’s net profit rose 13.1% to RM138.98 million from RM122.84 million a year ago, while revenue increased 6.9% to RM1.24 billion from RM1.16 billion.

As at end-October, the group’s total planted area stood at 15,838 hectares, while it has carried out replanting of 900 hectares during the current year to-date period.

In terms of the age profile of its planted areas, 7% are immature, 49% are young prime mature, 18% are old mature and 26% are at pre-replanting stage.

In terms of prospects, Kim Loong said based on forecasts, its fresh fruit bunch (FFB) production in FY2025 will be 3-5% lower than the quantity achieved last year, taking into account the lower-than-expected production from its estates in Sabah, especially in the Keningau region.

As for its palm oil milling operations, the company expects to achieve a total processing throughput near 1.6 million metric tonnes (MT) of FFB in FY2025.

In terms of CPO price prospects, it expects the average CPO price to stay above RM5,000 per MT in the final quarter of FY2025.

Shares of Kim Loong closed down five sen or 2% to RM2.46 on Friday, giving it a market capitalisation of RM2.41 billion. Year-to-date, the stock has gained 21.8%.