In a statement yesterday, the plantation company said the net profit was contributed by a core net profit of
In line with the lower production costs realised by TSH through better efficiency, the gross profit margin escalated to 30.6 per cent in 2013 from 25.5 per cent in the previous year.
The gross profit margin improved despite a 15 per cent lower average CPO price of
"Since 2008, TSH's FFB production has been growing on average at 34.4 per cent per annum. With cash from the disposal of non-core investment in
He added that almost 80 per cent of TSH's oil palm trees are now immature and young, which will continue to fuel FFB production growth.
"Coupled with our ongoing new planting, the company believes that it can sustain double-digit growth in FFB production for the next five to seven years," he said, adding that TSH expects unit production cost to continuously undergo downtrend as its FFB yield increases for the next few years.
For the fourth quarter ended
The core net profit is calculated after excluding non-operating items such as currency translation difference.
TSH has also announced a proposed first and final single-tier dividend of
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