Batu Kawan's pre-tax profit for the current quarter improved to RM200.46 million (4Q2023: RM185.73 million) despite revenue being marginally lower at RM5.88 billion (4Q2023: RM6.00 billion). However, the group slips into the red for the quarter registering a loss of RM19 million versus of RM52 million in profits for the fourth quarter.

For the full year, the group recorded revenue of RM23 billion slightly lower compared to 2023, full profit came in at RM298 million which was substantially lower from RM490 million in the previous year.

Plantation's profit was up 39.9% to RM1.65 billion (Todate 4Q2023: RM1.18 million) from higher CPO and PK sales volumes coupled coupled with stronger CPO and PK selling prices realised. The improvement was also contributed by lower CPO production cost, net unrealised gain of RM2.26 million (Todate 4Q2023: RM81.57 million net unrealised loss) from fair value changes on outstanding derivatives contracts and higher fair value gain of RM27.69 million (Todate 4Q2023: RM10.12 million gain) on unharvested fresh fruit bunches valuation

Manufacturing's profit dipped 57.2% to RM168.59 million (Todate 4Q2023: RM394.29 million) on the back of 8.7% lower revenue at RM18.77 billion (Todate 4Q2023: RM20.56 billion). Despite better profit from the Oleochemical sub-segment, this segment's todate profit was lower mainly due to higher loss reported by the non-oleochemical sub-segment coupled with losses from refineries and kernel crushing plant operations. Chlor-alkali sub-segment's profit was 39.1% lower largely from lower selling prices and sales volumes coupled with higher production cost.

Despite 5.2% higher revenue at RM229.43 million (Todate 4Q2023: RM218.11 million), Property Development's profit was 25.4% lower at RM46.44 million (Todate 4Q2023: RM62.25 million) mainly due to recognition of development profits from phases with lower gross margin.

Included in Investment Holdings/Others were lower share of equity loss of RM135.66 million (Todate 4Q2023: RM194.33 million loss) and impairment loss of RM180.00 million (Todate 4Q2023: Nil) on investment in Synthomer, a RM63.04 million surplus (Todate 4Q2023: RM52.43 million surplus) on sale of land and government acquisition, and fair value surplus of RM8.56 million (Todate 3Q2023: Nil) on deemed disposal of a joint venture. Farming sector recorded RM36.13 million loss (Todate 4Q2023: RM29.22 million profit) which was due to drop in sales volume of crop from lower crop production affected by adverse weather conditions.