Link: https://links.sgx.com/1.0.0/corporate-announcements/ZEZX0BWXMBV31X28/360d9e27c5250d2ee03e31a3c292e94d7e6cc84e09f40170ec076b66201ebedd

Summary:

• Q1 FY2026 revenue rose 14% year-on-year to RM3.05 billion, operating profit up 14% at RM416 million.

• Underlying profit before tax climbed 42% to RM508.8 million (excluding major currency and fair value swings).

• Reported profit before tax fell 40% to RM487 million and net profit attributable to owners declined 48% to RM369 million, mainly due to absence of last year’s large foreign exchange gains.

• Plantation segment profit increased 14% year-on-year, supported by higher realized CPO and palm kernel prices and fresh fruit bunch (FFB) output.

• Resource-based manufacturing swung sharply higher, with underlying profit up 249% as margins improved in refinery and oleochemicals.

• Basic earnings per share fell to 5.95 sen from 11.46 sen; no dividend declared for the quarter (Q1 FY2025: Nil).

• Net assets per share steady at RM1.98; group retains a robust balance sheet and ended September 2025 with RM1.46 billion in cash and equivalents.

• Management expects CPO prices to remain above RM4,000/MT in coming quarters. Rising production and improved estate management should boost plantation, but refinery segment remains challenged by competition and Indonesian oversupply.

• The group sees satisfactory performance ahead, leveraging product innovation, margin management, and digitalization to offset industry uncertainty.