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Ta Ann 3Q15 Net Profit Jumps 55% On Higher Oil Palm Output, Forex Gains
Malaysia Daily Bulletin | 17 November 2015
By:
  • Ta Ann Holdings’ net profit for 3Q15 recorded a 54.6 percent surge to RM67.4 million, on the back of a 5 percent rise in revenue to RM298.9 million.
  • The better quarterly performance was mainly attributable to higher fresh fruit bunch production (grew 8 percent), better export logs and plywood selling prices, and profit from its Tasmanian operations.
  • While sales volume for export logs and plywood fell 31 percent and 9 percent respectively, their respective average selling prices in Malaysian ringgit terms were 41 percent and 26 percent higher year-on-year.
  • For the nine-month period, top and bottom lines gained 4.8 percent and 25.4 percent to RM777.9 million and RM128 million respectively.

Significance: Notably, Ta Ann’s 9M15 earnings have already exceeded the profit recorded for the entire FY14, and the firm expects its timber and palm oil sectors to maintain their positive profit contribution. A second interim dividend of RM0.10 per share has been declared, the same quantum declared in the corresponding period last year.


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