By Yantoultra Ngui
KUALA LUMPUR, Malaysia--Kuala Lumpur Kepong Bhd. (2445.KU) said net profit in its fourth quarter jumped 101% from a year ago after recognizing a surplus arising from the sale of plantation land to an associate.
Kuala Lumpur Kepong, one of Malaysia's largest palm-oil plantations groups, Wednesday posted a net profit of 375.06 million ringgit ($86.11 million) in the July-September period, compared with MYR186.29 million a year ago. Revenue rose to MYR4.54 billion in the quarter from MYR3.93 billion a year earlier.
Kuala Lumpur Kepong said it expects its profit for the new financial year ending September 2017 to be satisfactory.
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(END) Dow Jones Newswires
November 16, 2016 05:57 ET (10:57 GMT)
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