KUCHING: Sarawak Oil Palms Bhd (SOP) posted a 43 per cent jump in net profit to RM113.8 million for the first quarter ended March 31, 2025 (1Q2025), from RM79.5 million a year ago, lifted by higher fresh fruit bunch (FFB) yields and better selling prices.
Group revenue rose 9 per cent year-on-year to RM1.44 billion from RM1.33 billion, while earnings per share improved to 12.73 sen from 8.92 sen.
Pre-tax profit climbed to RM163.4 million, compared to RM112.4 million in 1Q2023.
However, quarter-on-quarter, SOP’s performance weakened.
Revenue slipped 2 per cent from RM1.47 billion in 4Q2024, while net profit fell 19 per cent from RM139.8 million.
The group cited lower FFB production and weaker realised prices for palm oil products, which averaged RM4,688 per tonne (4Q2024: RM4,995 per tonne), as key factors.
In contrast, palm kernel product prices rose to RM4,105 per tonne from RM3,599.
As of December 31, 2023, SOP managed 82,309 hectares of oil palm plantations, with 80,091 hectares mature.
Looking ahead, SOP said its outlook will be shaped by cyclical FFB production trends, global edible oil prices, and input cost pressures from fertiliser, chemical, and fuel markets. The group is pursuing cost controls and a replanting programme to strengthen operations but cautioned that economic uncertainties and commodity price volatility remain key challenges.
SOP declared a final dividend of 4 sen per share for FY2024, payable on July 18, 2025.
