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NewsJaya Tiasa's pre-tax profit jumps to RM29.69 mln
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Jaya Tiasa's pre-tax profit jumps to RM29.69 mln
by Cals Tue 25 Feb 2014, 21:20
| Jaya Tiasa's pre-tax profit jumps to RM29.69 mln |
| Business & Markets 2014 |
| Written by Bernama |
| Tuesday, 25 February 2014 20:05 |
KUALA LUMPUR (Feb 25): Jaya Tiasa Holdings Bhd's pre-tax profit for the second quarter ended Dec 31, 2013, jumped to RM29.69 million, from RM2.22 million in the same period of 2012.
Revenue, however, fell to RM271.95 million, from RM286.22 million.
Jaya Tiasa's major businesses are timber, plywood and oil palm plantation.
In a filing to Bursa Malaysia, the company attributed the better pre-tax profit to higher selling prices of logs and plywood, as well as lower production cost of fresh fruit bunches, while the lower revenue was mainly due to fall in logs and plywood sales volume.
On outlook, it said that the timber division was expected to remain positive, in view of Japan and India’s policy of focusing on the construction sector and infrastructure development, which would lead to stronger demand for logs and wood products.
Meanwhile, crude palm oil prices were expected to be firmer, due to lower palm oil production from neighboring countries, as a result of rainfall deficit over the past two years.
"Going forward, we expect the oil palm division to also perform well, in the remaining quarters," it said.
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