FGV Annual Report 2015

170 Felda Global Ventures Holdings Berhad Annual Integrated Report 2015 Chief Financial Officer’s Statement Financial Performance The Group recorded a revenue of RM15.56 billion for the year under review, compared to RM15.25 billion in the preceding year. This reflects a rise of 2%, primarily due to the higher external CPO sales volume of 17%. However, PATAMI, reduced to RM107 million, as a result of several factors. • Lower average CPO price of RM2,210 per MT compared to RM2,410 per MT in 2014; • Lower OER of 20.91% compared to 21.01% achieved in 2014; • Increase in administrative expenses mainly due to foreign exchange loss incurred; • Decrease in finance income by 64%; and • Increase in fair value charges of Land Lease Agreement (LLA) to RM225 million in 2015 compared to RM115 million in 2014. Income Statement (RM million) YTD 2015 YTD 2014 Revenue 15,559 15,258 Cost of sales (13,697) (13,054) Gross profit 1,862 2,204 Operating profit (before LLA) 662 1,111 LLA liabilities (Fair value changes) (225) (115) Associates & JV 69 31 PBT (& zakat) 379 971 Profit from continuing operations 227 680 Profit/(loss) from discontinued operations* 75 (141) NET PROFIT (PAT) 301 539 PATAMI 107 325 EPS (sen) 2.9 8.9