KUALA LUMPUR: SUBUR TIASA HOLDINGS BHD []'s net profit in the third quarter ended April 30, 2011 fell'' 19.5% to RM8.40 million from RM10.44 million a year ago due to higher operation costs resulting from the increase in raw material, fuel and adhesive costs.
It said on Friday, June 24 that revenue declined 11.8% to RM144.66m from RM164.12 million. Earnings per share were 4.62 sen compared with 5.55 sen.
'The decrease in revenue was mainly due to the weakening of US dollar against the ringgit as the group's export proceeds are denominated in US dollar,' it said.
Subur Tiasa said for the nine-month period, net profit was flat at RM23.838 million compared with RM23.836 million a year ago. Revenue declined 4.8% to RM486.22 million from RM510.79 million.
'The market outlook for timber and timber products in the coming quarter remain positive with the continued firm demand for timber in India and China,' it said.
The company said plywood restocking activities for the housing and infrastructure rebuild after the earthquake and tsunami in Japan has already kick started an upward trend in plywood prices, which is expected to stabilise in the medium term.
However, it said the fear of escalating oil prices due to geopolitical issues in the Middle East and the renewed concerns over the state of economies of Greece and the chain effects in some other countries in Europe, have partly foreshadowed the general market outlook.
It said on Friday, June 24 that revenue declined 11.8% to RM144.66m from RM164.12 million. Earnings per share were 4.62 sen compared with 5.55 sen.
'The decrease in revenue was mainly due to the weakening of US dollar against the ringgit as the group's export proceeds are denominated in US dollar,' it said.
Subur Tiasa said for the nine-month period, net profit was flat at RM23.838 million compared with RM23.836 million a year ago. Revenue declined 4.8% to RM486.22 million from RM510.79 million.
'The market outlook for timber and timber products in the coming quarter remain positive with the continued firm demand for timber in India and China,' it said.
The company said plywood restocking activities for the housing and infrastructure rebuild after the earthquake and tsunami in Japan has already kick started an upward trend in plywood prices, which is expected to stabilise in the medium term.
However, it said the fear of escalating oil prices due to geopolitical issues in the Middle East and the renewed concerns over the state of economies of Greece and the chain effects in some other countries in Europe, have partly foreshadowed the general market outlook.
No comments:
Post a Comment