MARKET DEVELOPMENT
Ta Ann Q1 Earnings up 600% on Better Sales Volume and Price
Ta Ann Q1 Earnings up 600% on Better Sales Volume and Price
27/05/2014 (The Star) - Ta Ann Holdings Bhd saw its earnings in the first quarter ended March 31, 2014 jump more than six times to RM28.7mil from RM4mil in the same period a year earlier, as revenue climbed 41% to RM211.8mil from RM150.3mil.
The company said the improved figures for the quarter was from higher average selling prices of export logs by 28%, plywood products by 14%, oil palm fresh fruit bunch by 33% and crude palm oil by 18%.
In addition, it also enjoyed higher sales volume of between 19% and 43%.
Ta Ann’s earnings per share climbed to 7.74 sen from 1.09 sen previously, and its board of directors recommended an interim dividend of 10 sen, payable on June 24, with entitlement date fixed at June 5.
The company said it was confident of sustaining its performance in the second quarter.
The company said the improved figures for the quarter was from higher average selling prices of export logs by 28%, plywood products by 14%, oil palm fresh fruit bunch by 33% and crude palm oil by 18%.
In addition, it also enjoyed higher sales volume of between 19% and 43%.
Ta Ann’s earnings per share climbed to 7.74 sen from 1.09 sen previously, and its board of directors recommended an interim dividend of 10 sen, payable on June 24, with entitlement date fixed at June 5.
The company said it was confident of sustaining its performance in the second quarter.