KUALA LUMPUR (July 29): Harn Len Corp Bhd (KL:HARNLEN) saw its net profit shrink by 96% for the fourth quarter ended May 31, 2026 (4QFY2026) as higher costs and income tax took a toll on the company’s earnings.

In addition, the company’s other income dropped 39% to RM14.9 million in 4QFY2026 from RM24.5 million a year ago, according to its bourse filing.

The plantation company’s quarterly net profit plunged to RM836,143 from RM21.76 million a year ago, although revenue dipped slightly to RM70.84 million compared with RM70.89 million previously.

Harn Len’s income tax soared 81.55% to RM8.85 million compared to RM4.87 million a year earlier.

Cost of sales in 4Q2026 came in higher at RM59.38 million, up 11.2% from RM53.40 million in the previous year’s corresponding quarter.

The board declared an interim dividend in specie by distributing treasury shares on the basis of four treasury shares for every 100 shares held, rather than cash for FY2026.  

The price of crude palm oil (CPO) rose by 10% to RM4,349 from RM3,958 during the quarter, while palm kernel price went up 9% to RM3,252 from RM2,975.

For the financial year ended May 31, 2026 (FY2026), Harn Len’s annual revenue grew by 12.9% to RM319.66 million against RM283.24 million the year before. Net profit dropped to RM25.6 million compared with RM33.4 million a year ago.

Harn Len closed unchanged at 59.5 sen on Wednesday, valuing the company at RM368.1 million. Year to date, the counter is up 6.25%.