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KUALA LUMPUR: TDM Bhd said its plantation business made a profit in the last quarter on higher palm oil prices, but losses at its healthcare division impacted the group's overall results.
The company posted net loss of RM8.5mil in the three-month ended Dec 31.
Total loss for the year amounted to RM10.7mil. “The newly acquired TDM-YT Plantation Sdn. Bhd (TDMYT), has contributed to the higher sales volume of CPO and PK during the quarter,:" its chairman Raja Datuk Idris Raja Kamarudin said in a statement today.
He said the group focused on improving productivity and optimizing production cost for its Plantation business.
"The recent acquisition of TDMYT is one of the key initiatives in our effort to increase our production and improve the overall age profile of the Group," he said.
Meanwhile, its healthcare business had posted improved results quarter-on-quarter.
"For our Healthcare, we continue to reinvent product and service offerings to face economic and business challenges impacted by the pandemic Covid-19," he said.