KUALA LUMPUR: Tradewinds Plantation Bhd's (TPB) net profit for the third quarter ended Sept 30, 2009 (3QFY09) fell 41.6% year-on-year to RM24.41 million from RM41.78 million a year earlier in tandem with a decline in revenue due to the fall in crude palm oil (CPO) and palm kernel prices.

Revenue fell 30.4% to RM183.48 million from RM263.45 million, while basic earnings per share (EPS) fell to 3.88 sen from 6.64 sen.

However, on a quarterly basis, the group's earnings in 3QFY09 was a reversal from the loss of RM856,000 incurred in the immediate preceding quarter due to a higher production and sales of palm products and lower operating expenses. Revenue was up 23% quarter-on-quarter.

For the nine months to Sept 30, 2009, net profit plunged nearly 90% to RM14.12 million from RM128.97 million a year earlier due to the decline in prices of CPO and palm kernel, and share of loss in a jointly controlle entity. Revenue fell 29% to RM465.8 million from RM656.87 million a year earlier. EPS fell to 2.24 sen from 20.5 sen.

The company said yesterday based on the prevailing prices of palm products and the expected increase in production in the remaining period of the year, its board expected the results for the remaining period to remain profitable.