Univanich Palm oil posts four-fold profit jump

14 November 2008 10:30  [Source: ICIS news]

SINGAPORE (ICIS news)--Thai Univanich Palm Oil announced a four-fold jump in its third-quarter net profits to Thai Baht (Bt) 522m ($15m) from Bt188m a year earlier on improved production of fresh fruit bunches (FFB) and higher crude palm oil (CPO) prices, the company said on Friday.

Univanich’s first nine-month net profit for the ended 30 September also showed a four-fold increase to Bt 1,382m from Bt338.4m.

The company’s first nine month sales more than doubled to Bt 5,852m from Bt 2,857m as CPO selling prices were up 49.3% compared with the previous year.

Higher demand mainly from the company’s two new biogas power plants in the second quarter was also reported.

Univanich increased FFB production 65% in the first nine months with the new-generation hybrid oil palms contributing to increased volumes.

Univanich accrues more than 90% of its revenue from palm oil. In June 2007, Univanich invested in two biogas projects at Lamthap and Aoluk in Thailand, and a third biogas project is being built at Plai Pharaya.

($1 = Bt34.64)

Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuels
To discuss issues facing the chemical industry go to ICIS connect

By: Leon Toh
+65 6780 4359

< previous article(VIDEO – ICIS news Americas Lunchtime Bulletin 29 Oct 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly