PETALING JAYA: Hap Seng Plantations Holdings Bhd’s net profit rose 38.3% to RM47.42mil for the second quarter (Q2) ended June 30, 2021 from RM34.28mil in the corresponding quarter last year.

       The group’s earnings growth was mainly attributable to higher average selling prices of crude palm oil (CPO) and palm kernel (PK), it said in its exchange filing.

       Hap Seng Plantations has proposed a first interim dividend of 1.5 sen per share.

       During the quarter in review, its revenue doubled to RM181.07mil from RM83.57mil in the previous corresponding quarter, lifted by higher average selling price realisation and higher sales volume of CPO and PK.

       Its earnings per share (EPS) rose to 5.93 sen in Q2 from 4.29 sen previously.

       Year-to-date, Hap Seng Plantations saw its net profit almost tripling to RM76.79mil from RM28.26mil in the six months to June 2020, while its revenue grew 63.1% to RM302.39mil from RM185.43mil.

       Overall, the group said it expected its results for the financial year ending Dec 31 2021 to be influenced by movements in commodity prices and the uncertainties in the global economic environment caused by the prolonged Covid-19 pandemic.