SARAWAK PLANTATION BERHAD
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Annual Report 2014
Message to Our Shareholders
On behalf of the Board of Directors,
it gives me great pleasure to present
the Company’s Annual Report for
the year ended 31 December 2014,
our seventh full year of operation
since our listing on the Main Market of
Bursa Malaysia on 28 August 2007.
Financial Performance
The Group recorded revenue of RM390 million for
the financial year ended 31 December 2014
compared with RM362 million in the preceding year,
an increase of RM28 million or 8%. The Group’s profit
before tax also grew to RM70 million compared to
RM45 million for 2013, an increase of RM25 million
or 56%. Profit attributable to owners of the Company
rose from RM40 million in 2013 to RM61 million in
2014, an increase of RM21 million or 53%.
Discussion of Performance
Overview
The growth of 8% in revenue was principally attributed
to the higher realised average selling price for crude
palm oil (CPO) and palm kernel (PK) coupled with
increase in sale volume of CPO. Higher profit before
tax and profit attributable to owners of the Company
was principally due to reversal of prior year's
impairment loss (recognised as other non operating
income) on deposits paid for acquisition of equity
interest in four plantation companies following the
refund of the said deposits during the year.
Increase in Realised Average Selling Prices
The realised average selling price for CPO increased
from RM2,269 per mt in 2013, to RM2,351 in 2014,
an increase of RM82 per mt or 4%. The realised
average selling price for PK also increased, from
RM1,216 per mt in 2013 to RM1,575 per mt in
2014, an increase of RM359 per mt or 30%.
