TSH Resourcesnet profit rises to RM57mil

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KUALA LUMPUR: TSH Resources Bhd’s net profit widened to RM57.34mil in the second quarter ended June 30, 2022 (2Q22) from RM39.72mil in the same period last year.

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In a filing with Bursa Malaysia, the company said revenue increased 38% to RM424.4mil compared with RM307.4mil previously mainly due to higher revenue contributions from both the palm products and other segments.

“Revenue and profit for palm products segment improved for 2Q22 compared with the corresponding period last year despite being impacted by the increase in Indonesia’s export levy and duty on crude palm oil,” it said. — Bernama