How did revenue change for Hap Seng Plantations in FY19?

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Hap Seng Plantations Holdings Bhd Saw Revenue Increase in FY19

Hap Seng Plantations Holdings Bhd's revenue for the financial year ended December 31, 2019, increased to RM418.60 million, up from RM390.76 million in the preceding year. This growth in revenue contributed to an overall rise in the company's net profit for the same period.
Revenue Growth in FY19

The company reported a revenue of RM418.60 million for FY19. This figure represents a notable increase compared to the RM390.76 million generated in the prior financial year.
Net Profit Increase

Alongside the revenue growth, Hap Seng Plantations Holdings Bhd also experienced an increase in its net profit for FY19. The net profit for the period stood at RM31.45 million, an improvement from RM29.11 million recorded in the previous year.
Factors Influencing Profit

The company attributed the eight per cent increase in net profit for FY19 to the reversal of certain deferred tax provisions from prior periods. This adjustment positively impacted the earnings per share, which rose to 3.93 sen from 3.64 sen in the previous year.
Outlook for FY20

Looking ahead to FY20, Hap Seng Plantations Holdings Bhd anticipates that crude palm oil (CPO) production and inventories are likely to remain low in the first quarter. This scenario may provide support for CPO prices in the near term. However, the group's results for FY20 are expected to be influenced by global economic uncertainties, including the impact of the COVID-19 outbreak.

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How did revenue change for Hap Seng Plantations in FY19?

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