Monday, May 14, 2007

IOI Stock Gains After Third-Quarter Profit Surges on Higher Palm-Oil Price

(Bloomberg) -- Shares of IOI Corp., the world's largest oil-palm planter, had their biggest gain in a month after third-quarter profit jumped 83 percent, the highest quarterly growth in more than four years, on higher palm oil prices.

Profit rose to 392.2 million ringgit ($115 million) in the three months ended March 31, from 214.8 million ringgit a year earlier, Putrajaya, Malaysia-based IOI said in a statement in Kuala Lumpur yesterday.


Read more at Bloomberg Commodities News

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