Malaysia's Felda Global returns to profit in third quarter

Kuala Lumpur

MALAYSIA'S Felda Global Ventures Bhd (FGV), the world's No 3 palm plantation operator, returned to profitability in the third quarter on increased production and predicted a further rise in output next year.

The company reported a net profit of RM38.8 million (S$12.7 million) for the quarter ended September, compared with a loss of RM73.6 million a year earlier, it said on Thursday in a statement to the stock exchange.