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Kuching : The group revenue of Sarawak Plantation Berhad (SWKPLNT) for
the twelve months ended 31 December 2008 stood at RM262 million. This
represents an increase of 7% as compared with RM244 million in the
preceding year. The higher revenue was mainly due to higher average
prices of crude palm oil (“CPO”) realized.
However, the Group achieved a lower profit before tax of RM67.6 million
for the twelve months ended 31 December 2008 against RM82.7 million
recorded in the preceding year, a decrease of RM15 million (18%). This
is principally attributed to higher cost of production following the
increase in fertilizer, agrichemical and fuel costs and imposition of
cooking oil stabilization cess since June 2007 and windfall tax since
July 2008.
In September 2008, the Company paid an interim tax exempt dividend of 7
sen per share, totaling RM19.6 million. The Board of Directors now
further declared an interim, single tier dividend of 4 sen per share,
totaling approximately RM11.2 million, in respect of the financial year
ended 31 December 2008. This will bring the total dividends for the
financial year ended 31 December 2008 to RM30.8 million, represents 60%
of the unaudited net profit for year 2008.
With the current low crude palm oil (“CPO”) prices, the Group continues
to seek operational efficiency enhancement to mitigate the impact
arising from lower CPO revenue on the Group’s financial performance.
This includes prudent spending, cost rationalization and cost control,
increase milling efficiency and improve oil extraction rate.
The Group anticipates a challenging year ahead in the light of the
current global financial crisis and economic slowdown and uncertainty in
the global oils and fats prices. Nevertheless, barring any unforeseen
circumstances, the Directors are of the opinion that the performance of
the Group for the next financial year is expected to remain stable
subject to the outlook of the crude oil and global oils and fats market.
Further information on the Group is available on its website at
www.spbgroup.com.my and details of the financial results are available
on Bursa Malaysia’s website at www.bursamalaysia.com.
Released on 25 February 2009
For inquiries, please contact:
The PR Executive
(Tel)082-233550, 233560
(Fax) 082-256560, 233670
Sarawak Plantation Berhad
8th Floor Wisma Naim
2.5 Mile Rock Road
93200 Kuching
Sarawak
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