Kuala lumpur: IOI Corporation Bhd (IOI Corp) reported a substantial rise in its net profit for the second quarter of the financial year ending June 30, 2026, reaching RM528.50 million, compared to RM111.10 million from the same period the previous year.

According to BERNAMA News Agency, the palm oil producer attributed this improved performance primarily to higher contributions from its resource-based manufacturing segment and a slightly increased contribution from its plantation segment. The company's revenue also saw an increase, climbing to RM3.01 billion from RM2.97 billion in the previous year.

For the first half of the fiscal year, ending December 31, 2025, IOI Corp's net profit rose to RM897.90 million, up from RM821.80 million in the corresponding period of the previous year. This growth was largely due to stronger contributions from both its resource-based manufacturing and plantation segments. Additionally, the company reported improved revenue of RM6.06 billion, compared to RM5.64 billion in the prior year.

IOI Corp has declared a first interim dividend of 5.5 sen per share for the reviewed quarter, with payment scheduled for March 24, 2026. Looking ahead, the company remains optimistic about its operating and financial performance for the remaining quarters of FY2026, anticipating resilience and satisfactory outcomes despite ongoing market challenges.

In the plantation segment, the production of fresh fruit bunches is expected to increase, supported by a larger percentage of oil palms reaching their prime age, notwithstanding the ongoing accelerated replanting efforts in Sabah. The company emphasized that advances in estate management practices, increased mechanization, and the implementation of digital initiatives are anticipated to further boost productivity.

IOI Corp expressed a confident outlook for the plantation segment, expecting it to maintain strong financial performance throughout FY2026.