TH Plantations share price down after fall in Q2 earnings

PETALING JAYA: TH Plantations Bhd’s share price fell 0.89% this morning after its net profit declined 5.1% to RM7.2 million for the second quarter ended June 30, 2017 versus RM7.58 million in the previous corresponding period, on the back of higher effective tax rates.

As at 10.46am, TH Plantation’s share price stood at RM1.11 with 14,600 million shares changing hands. It has a market capitalisation of RM981 million.

Its revenue soared 17.4% from RM132.41 million to RM155.43 million.

The group recorded improved selling prices in Q2, with its average crude palm oil selling price for the period coming in at RM2,664 per metric tonne, a 10% increase from the same period last year.