KUALA LUMPUR (June 27): Subur Tiasa Holdings Bhd’s net profit soared 353% year-on-year (y-o-y) to RM10.1 million in the third quarter ended Apr 30, 2014, from RM2.2 million.
Revenue jumped 24.3% y-o-y to RM230.6 million from RM185.6 million.
In a statement to Bursa Malaysia, 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, net profit stood at RM27.4 million versus RM7.3 million in the corresponding period, while revenue was RM642.9 million from RM593 million a year ago.
Subur Tiasa said the overall improved results was mainly attributed to revenue growth from the logging, manufacturing and plantation segments.
“Timber and timber product prices are not expected to experience any downside volatility in anticipation of the increased demand from the timber consuming countries,” said Subur Tiasa on prospects.
With improved operational efficiency at the supply chain and delivery, the timber segment would continue to be the main profit contributor, it said.