FGV profit down on lower CPO price

Felda Global Ventures Bhd posted a net profit of RM904.9 million for year ended December 31, 2012, about 35 per cent lower compared with RM1.4 billion in 2011 due to lower crude palm oil price.

However, the result exceeded analysts average estimate of about RM790 million to RM800 million.

Revenue was higher at RM12.89 billion compared with RM7.45 billion. Total dividend is 14 sen per share, totalling RM511 million, 64 per cent of its profit after tax and minority interest.