KUALA LUMPUR: Boustead Plantations Bhd 's earnings surged to RM562.42mil in the third quarter ended Sept 30, 2017, boosted by gains from the land sale.It had on Tuesday also declared a third interim dividend of three sen per share and a special dividend of seven sen per share for FY ending Dec 31, 2017. The dividends will be paid on Dec 19.It said the Q3 earnings surged from RM37.93mil a year ago while profit before tax (PBT) increased jumped to RM599mil from RM50.19mil.“These improved results were primarily attributable to gains realised on disposal of land amounting to RM555mil,” it said. Its revenue increased by 6% to RM541.93mil from RM511.22mil.“Excluding the gain on disposal of plantation assest of RM554.90mil (2016: 124.2mil), the profit was an improvement of 68% from 201. FFB crop grew by 4% to 294,243 tonnes despite high turnover of workers and erratic weather conditions.The Sarawak region registered RM5mil operating profit of RM5mil versus RM1mil a year ago dueto higher selling prices for palm products. Once completed, this is expected to unlock substantial value for the group over the long run,” said Lodin.

Source: The Star November 21, 2017 06:33 UTC