Jaya Tiasa 4Q net profit up five-fold to RM54.49m

by **hlk** Thu 23 Jun 2011, 19:14

KUALA LUMPUR: JAYA TIASA HOLDINGS BHD [] net profit for the fourth quarter ended April 30, 2011 surged five-fold to RM54.49 million from RM8.98 million a year earlier, due mainly to higher profit margin and increase in average selling prices.

Revenue for the quarter 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.

The company also announced that it had adopted a dividend policy to pay dividend of not less than 20% of its net profit for future financial years, subject to not compromising its ability to support its pursuit for long term growth.

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.

“Barring any unforeseen circumstances, the board believes that the performance for the next financial year will continue to be satisfactory,” it said.