KUALA LUMPUR: JAYA TIASA HOLDINGS BHD [] shares rose in early trade on Friday, June 24 after the company announced on Thursday that it had adopted a dividend policy to pay dividend of not less than 20% of its net profit for future financial years.
At 9.10am, Jaya Tiasa was up four sen to RM7.14 with 3,100 shares traded.
The company's net profit surged five-fold to RM54.49 million in the fourth quarter ended April 30, 2011 from RM8.98 million a year agor, due mainly to higher profit margin and increase in average selling prices.
It said on Thursday, June 23 revenue rose to RM255.52 million from RM189.62 million. Earnings per share rose to 20.41 sen while net assets per share was RM4.66.
It proposed a first and final gross dividend of six sen per share.
For the financial year ended April 30, Jaya Tiasa's net profit jumped to RM146.91 million from RM24.37 million on the back of revenue RM870.91 million.
Commenting on its outlook, Jaya Tiasa said on Thursday, June 23 that the prospect of the timber division was expected to remain positive in view of the tight log supply condition and increase in demand for wood products from Japan's reCONSTRUCTION [] efforts coupled with strong demand from emerging economies, such as India and China.
"For the oil palm division, higher fresh fruit bunches and CPO production volume is expected to contribute significantly to the group's profitability.
At 9.10am, Jaya Tiasa was up four sen to RM7.14 with 3,100 shares traded.
The company's net profit surged five-fold to RM54.49 million in the fourth quarter ended April 30, 2011 from RM8.98 million a year agor, due mainly to higher profit margin and increase in average selling prices.
It said on Thursday, June 23 revenue rose to RM255.52 million from RM189.62 million. Earnings per share rose to 20.41 sen while net assets per share was RM4.66.
It proposed a first and final gross dividend of six sen per share.
For the financial year ended April 30, Jaya Tiasa's net profit jumped to RM146.91 million from RM24.37 million on the back of revenue RM870.91 million.
Commenting on its outlook, Jaya Tiasa said on Thursday, June 23 that the prospect of the timber division was expected to remain positive in view of the tight log supply condition and increase in demand for wood products from Japan's reCONSTRUCTION [] efforts coupled with strong demand from emerging economies, such as India and China.
"For the oil palm division, higher fresh fruit bunches and CPO production volume is expected to contribute significantly to the group's profitability.
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