QL Resources Shares Jump After Higher Fourth-Quarter Profit

By Ying Xian Wong

QL Resources shares rose sharply after the Malaysian agrofood company reported a 21% rise in fiscal fourth-quarter profit.

The stock jumped much as 11% Friday morning, and was last 10% higher at 3.75 ringgit, trimming year-to-date losses to 1.1%.

QL Resources said late Thursday that net profit for the three months ended March 31 was 113.3 million ringgit, equivalent to $28.5 million, compared with 93.4 million ringgit a year ago. The bottom line was mainly helped by improved margins in its marine product segment. Quarterly revenue rose 4.1% to 1.81 billion ringgit.

The fiscal 2027 outlook for the company's marine products, palm oil and clean energy segments should remain positive, supported by stronger margins from improved fish landings and contributions from unit BM GreenTech, Maybank Investment Bank analyst Jade Tam said in a note.

However, softer selling prices for eggs and weaker consumer spending could continue to weigh on earnings for the integrated livestock and convenience store divisions, she added.

Maybank raised QL Resources' rating to buy from hold, but cut its target price to 4.00 ringgit from 4.25 ringgit.

The worst is likely over for QL Resources, said CIMB Securities analyst Walter Aw Lik Hsin in a note. Aw forecast fiscal 2027 core net profit to rise 5.8%, supported by improving prospects in its palm oil and clean energy segments, as well as the marine product business.

These segments are expected to partly offset softer contributions from the integrated livestock division following the removal of egg subsidies, he added.

CIMB maintained a buy rating on QL and kept its target price at 4.60 ringgit.

Write to Ying Xian Wong at yingxian.wong@wsj.com

(END) Dow Jones Newswires

May 28, 2026 22:22 ET (02:22 GMT)