PETALING JAYA: Teck Guan Perdana Bhd’s net profit jumped more than 17 times to RM17.23mil in the fourth quarter ended Jan 31, 2022 from RM1.01mil a year ago bolstered by the increase in the operating margin in the quarter.

       In a filing with Bursa Malaysia, the group said its operating profit rose from RM2.62mil to RM21.31mil compared to the corresponding period a year ago.

       “The increase was mainly attributed to the increase in the operating margin,” it added.

       Meanwhile, revenue rose 331% to RM325.24mil in the quarter compared to RM75.41mil in the corresponding period a year ago due to the increase in both the sales volume and selling price.

       Despite the challenging operating environment, the group said it performed better compared to the financial year ended Jan 31, 2021 (FY21) amid both influencing internal and external factors exerted on palm-related products.

       Moving forward, Teck Guan expects palm oil prices to stay firm as the world economy continues to strive for faster recovery.

       “Barring unforeseen uncertainties in the domestic and global economies triggered by the prolonged Covid-19 pandemic, the management remains optimistic on the long-term prospects of the palm-based industry and will continue to focus on enhancing productivity excellence jointly with cost optimisation to minimise the negative impact on its profitability and liquidity so as to achieve sustainable growth,” it noted.