KUALA LUMPUR: TSH Resources' pre-tax profit rose 54 per cent to RM162.4 million for the financial year ended December 31 2011 from RM105.3 million recorded in the preceding year.
The group's turnover increased 27 per cent to RM1.15 billion from RM908 million in the previous year.
"The palm oil segment's contribution accounted for all the profit generated in 2011," said group chairman Datuk Kelvin Tan in a statement yesterday.
"Our plantation segment performed exceedingly well with record fresh fruit bunches (FFB) and oil yields from Sabah and Indonesia.
"The Sabah estates' average FFB yield exceeded 31 tonnes per hectare and oil yield was almost 7.0 tonnes per hectare.
"This is a forerunner to the many more good years to follow," he said.
Tan noted that the early yields from the TSH group's Indonesian estates were most promising.
"With the higher oil extraction rate of 26 per cent, oil yield per hectare from our Indonesian estates will comfortably exceed 7.0 tonnes per hectare at prime age."
TSH's total planted areas stood at 44,074ha at end-2011 with an unplanted land bank of 70,000ha. Bernama
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