KUALA LUMPUR: SUBUR TIASA HOLDINGS BHD []'s net profit for the first quarter (1Q) ended Oct 31, 2010 rose 41.4% to RM10 million from RM7.07 million a year earlier, mainly due to higher profit derived from the forest operations as a result of increase in average selling price of logs.
Its revenue for the quarter, however, dipped slightly to RM158.26 million from RM162.42 million last year, on account of the strengthening of the ringgit against US dollar as the group's export proceeds are denominated in the US dollar.
Earnings per share was 5.32 sen, while net assets per share was RM3.25.
Commenting on its outlook, Subur Tiasa said the market outlook for the timber industry was expected to be positive.
"The demand for timber and timber products in the coming quarters are anticipated to sustain as the wet weather during the year-end would hamper the logs production and therefore reduce the timber supply to the market.
"The group will continue to be vigilant in improving the efficiencies and effectiveness of its business operations to achieve optimum volume of production, concurrent with strengthened marketing and cost controlling strategies," it said on Tuesday, Dec 21.
Subur Tiasa said it expects its performance to be satisfactory for the remaining quarters.
Its revenue for the quarter, however, dipped slightly to RM158.26 million from RM162.42 million last year, on account of the strengthening of the ringgit against US dollar as the group's export proceeds are denominated in the US dollar.
Earnings per share was 5.32 sen, while net assets per share was RM3.25.
Commenting on its outlook, Subur Tiasa said the market outlook for the timber industry was expected to be positive.
"The demand for timber and timber products in the coming quarters are anticipated to sustain as the wet weather during the year-end would hamper the logs production and therefore reduce the timber supply to the market.
"The group will continue to be vigilant in improving the efficiencies and effectiveness of its business operations to achieve optimum volume of production, concurrent with strengthened marketing and cost controlling strategies," it said on Tuesday, Dec 21.
Subur Tiasa said it expects its performance to be satisfactory for the remaining quarters.
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