PETALING JAYA: Genting Plantations Bhd’s net profit fell 26.8% to RM140.92 million for the second quarter ended June 30, 2026 (Q2’26), from RM192.57 million a year earlier, mainly due to the absence of a gain from the disposal of assets classified as held for sale recorded in the corresponding quarter last year.
Revenue, however, rose 30% to RM996.79 million from RM766.99 million, driven by improved sales volumes in its downstream manufacturing segment and higher fresh fruit bunch (FFB) production, according to a filing with Bursa Malaysia.
For H1’26, net profit declined 17.7% to RM208.98 million from RM253.83 million in the corresponding period, while revenue increased 15.5% to RM1.72 billion from RM1.49 billion.
FFB production rose 12% year-on-year to 560,000 metric tonnes in Q2’26, supported by favourable weather and improved cropping trends across certain estates.
Meanwhile, the average selling price of crude palm oil slipped 1% to RM3,758 per metric tonne, while palm kernel prices rose 2% to RM3,478 per metric tonne.
The plantation segment recorded higher earnings on increased FFB production, although lower CPO prices partly offset the gains. The downstream manufacturing segment also benefited from higher sales volumes and improved margins, while the AgTech segment returned to positive earnings following additional contributions from seed sales.
Genting Plantations declared an interim single-tier dividend of 10 sen per share, unchanged from the corresponding period last year.
Looking ahead, the group said its performance will continue to depend mainly on palm product prices and FFB production. It expects palm oil prices to remain supported by biofuel blending mandates and firmer energy prices, although seasonally higher production and subdued demand from key importing countries may limit further upside.
