Wednesday, December 21, 2011

Jaya Tiasa 2Q net profit rises 36.8% to RM41.16m

Larger Smaller Reset KUALA LUMPUR (Dec 21): JAYA TIASA HOLDINGS BHD [] net profit for the second quarter ended Oct 31, 2011 rose 36.8% to RM41.16 million from RM30.07 million a year earlier, due mainly to increase in revenue.

The company said on Wednesday that its revenue for the quarter increased to RM239.53 million from RM192.21 million in 2010

Earnings per share for the quarter increased to 15.42 sen from 11.27 sen in 2010, while net assets per share was

For the six months ended Oct 31, Jaya Tiasa's net profit jumped to RM97.08 million from RM52.53 million, while revenue rose to RM499.52 million from RM377.74 million in 2010.

Reviewing its performance, Jaya Tiasa said the improvement in revenue was due mainly to increase in logs sales volume and plywood average selling price; higher fresh fruit bunches (FFB) sales volume; and improvement in crude palm oil (CPO) sales volume and selling price.

It said the global economic environment had become more uncertain with renewed concerns on sovereign debt crisis in Europe, subdued recoveries in other advanced economies and moderate growth in emerging and developing markets.

In view of the volatile operating environment, performance for the timber segment will be challenging, it said.

'However, the oil palm segment remains bullish with higher FFB and CPO production volume contributing significantly to the group profitability.

'Barring any unforeseen circumstances, the board believes that the performance for the current financial year will be satisfactory,' it said.

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