Revenue and net profit rose 24% and 42% y-o-y to RM1.6 bil and RM124 mil respectively. In terms of segmental profits, rice and plantations operating profits more than doubled as compared to last year, raking in RM103 mil and RM155 mil respectively. However, sugar profits were not fantastic and remained stagnant at RM49 mil. Prospects for plantation and rice will remain favorable for the rest of the year while sugar performance would remain unexciting. Overall, expect better results ahead. This year's performance very likely will exceed last year's results. They just announced an interim dividend of 20 sen per share (before tax), making their dividend yield per year of about 4-5%, rather attractive.
Long term wise, it's a stock worth holding. PER 2011 at less than 6x!!! Dividend yield at 4-5%, huge earnings growth especially from the plantation division (just look at Tradewinds Plantation huge growth in its net profit, could easily exceed RM300mil for this year).