Hot Stock: Subur Tiasa shares rises 10% on strong 3Q results

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KUALA LUMPUR (June 30): Subur Tiasa Holdings Bhd shares rose 10% to be among the top gainers on the stock exchange today after the company a strong 350% jump in its net profit for the third quarter ended April 30, 2014.

At 9:40am, Subur shares rose to 21 sen or 10% to a high of RM2.35 before giving up gains to trade at RM2.26, with 40,100 shares done.

On Friday, the company announced that its net profits soared over 350% year-on-year (y-o-y) to RM10.1 million in the third quarter ended Apr 30, 2014 from RM2.2 million a year earlier.

Revenue jumped 24.3% y-o-y to RM230.6 million from RM185.6 million.

The timber manufacturer said the quarter witnessed recovery in average selling prices across all segments of logs, timber products and crude palm oil price.

For the nine month period to April 2014, net profit recorded RM27.4 million versus RM7.3 million in the corresponding period, while revenue stood at RM642.9 million from RM593 million a year ago.

The company was listed among Standard & Poor’s comprehensive report on Malaysia and was among the 25 top stocks in 2010 according to its company website.