KUALA LUMPUR: Boustead Plantations Bhd (BPlant) says it will continue the integration of digitalisation and mechanisation across its operations despite headwinds and market volatility.
The company is optimistic about the long-term prospects, its director Izaddeen Daud said.
Izaddeen said BPlant's focus is to remain steadfast in enhancing yield and operational efficiency while improving cost efficiencies.
He said the company has set up a robust strategy steered by a capable team.
"Coupled with upholding environmental, social, and governance (ESG) standards, BPlant is dedicated to weather through the challenging landscape and unlock value for shareholders," he said at BPlant's 110th annual general meeting (AGM).
BPlant posted a revenue of RM1.2 billion for the year ended Dec 31 2022, the highest since its listing in 2014.
Its profit after taxation and zakat increased to RM589 million.
Its profit before taxation and zakat (PBT) increased more than two-fold to RM729 million which the company attributed to high palm product prices in the first half of 2022 including gains realised from the disposal of land.
BPlant registered a PBT of RM14 million in the first quarter, which was announced on May 23.
The company declared an interim single-tier dividend of 1.0 sen per share for the fiscal year ending Dec 31, 2023.
"Building on our commendable performance in FY2022, to maintain our momentum, we have embarked on a path of continued growth that revolves around our yield improvement initiatives and our forward-thinking asset rebalancing strategy.
"In tandem, embracing advanced technology will ensure that BPlant is well-positioned to tap into emerging opportunities," Izaddeen said.