Ta Ann's 3Q earnings jump 55%, pays 10 sen dividend

by **Cals** Mon 16 Nov 2015, 21:30

Ta Ann's 3Q earnings jump 55%, pays 10 sen dividend

By Ahmad Naqib Idris / theedgemarkets.com | November 16, 2015 : 5:54 PM MYT

KUALA LUMPUR (Nov 16): [size=16]Ta Ann Holdings Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 1.80)'s net profit jumped 55% to RM67.42 million in the third quarter ended Sept 30, 2015, from RM43.61 million or 34.53 sen per share a year earlier, mainly due to higher fresh fruit bunch production, better export logs and plywood selling prices, and profit from its Tasmanian operations.

Revenue for the quarter rose 5% to RM298.91 million, from RM284.71 million in the previous year, according to Ta Ann's filing with Bursa Malaysia today.

The group declared a second interim single-tier dividend of 10 sen per share for the financial year ending Dec 31, 2015 (FY15), payable on Dec 22 — the same quantum declared in the corresponding period last year.

For the cumulative period ended Sept 30 (9MFY15), the group saw a 25% improvement in net profit, backed by a 5% increase in revenue for the period.

Its 9MFY15 profit had also exceeded the profit recorded for the entire FY14, and Ta Ann expects its timber and palm oil sectors to maintain their positive profit contribution.

“Barring unforeseen circumstances, the directors are confident of a better performance for 2015 than 2014,” it said.

Ta Ann closed 1 sen or 0.25% higher at RM4.09 today, for a market capitalisation of RM1.51 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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