This was despite stronger revenue yoy due to higher fresh fruti bunch and crude palm oil production, Affin Hwang Capital said. The firm said the results for Kuala Lumpur Kepong Bhd, Felda Global Ventures Holdings Bhd, IJM Plantations Bhd, IOI Corp Bhd, Genting Plantations Bhd, Jaya Tiasa Holdings Bhd and WTK Holdings Bhd were below its expectations. Hap Seng Plantations Holdings Bhd and Tan Ann Holdings Bhd were within, while Sime Darby Bhd came in above expectations, Affin Hwang Capital added. “For 2Q17, earnings for the plantation sector were a disappointment, partly due to higher-than-expected cost of production that affected some plantation companies’ earnings. Affin Hwang Capital recently lowered its sector earnings forecasts for 2017 and 2018 by 4.0-8.0 per cent after taking into account the second quarter results.

Source: New Strait Times September 11, 2017 03:33 UTC