Subur Tiasa 2Q Net Profit up 10.5% to RM 6M
by Subur Tiasa  April 23, 2012
Chin, J. (2012) The Edge Malaysia
KUALA LUMPUR (March 23): SUBUR TIASA HOLDINGS BHD’s earnings rose 10.5% to RM6.00 million in the second quarter ended Jan 31, 2012 from RM5.43 million a year ago, boosted by the stronger manufacturing sector.
It said on Friday that its revenue, however, declined 13.9% to RM157.67 million from RM183.29 million. Earnings per share were 3.19 sen compared 2.89 sen.
For the first half, its earnings increased by 8.9% to RM16.80 million from RM15.43 million in the previous corresponding period. Revenue slipped 9.5% to RM308.88 million from RM341.56 million.
Commenting on the performance of its divisions, Subur Tiasa said the logging and reforestation segment reported profit before tax of RM1.12 million in 2Q and RM8.09 million in 1H. The lower profit as compared to previous corresponding period was mainly due to lower average selling prices of logs.
As for the manufacturing segment, comprising of manufacturing of plywood, particleboard and sawn timber, it contributed about 58% of total revenue for 2Q and 54% for 1H.
The manufacturing segment recorded higher profit before tax of RM4.23 million in 2Q and RM11.02 million in 1H. The higher profit was contributed by the increase in selling prices.
The oil palm segment recorded profit before tax of RM3.04 million in 1H mainly due to the increase by 260% in harvested volume of fresh fruit bunch to 16,612 tonnes from 6,420 tonnes a year ago.