KUALA LUMPUR: Ta Ann Holdings Bhd
's net profit for its fourth quarter ended Dec 31, 2014 fell 35% to RM20.45mil compared to RM31.46mil a year ago.
In a filing to Bursa Malaysia on Wednesday, the group said revenue for the period rose 37% to RM278.45mil from RM202.89mil a year earlier.
Earnings per share fell to 5.52 sen from 8.49 sen a year ago.
For its full year, the group's net profit rose 31.7% to RM2133.49mil from RM92.96mil a year earlier while revenue jumped 32.6% to RM1.02bil from RM769,920.
Commenting on its results, the group said revenue for its quarter fell due to lower products sales volume, coupled by higher average selling prices of export log, plywood and CPO.
However, the group expects the timber market to continue its uptrend in 2015 with sustained demand for logs from India and plywood products from Japan.
The log supply shortage will be expected to maintain the timber product selling prices.
It said log supply of the group will be boosted by the commencement of sustainable harvesting of acacia from our planted forests.
"Products made from the planted forest timber are popular with the buyers," it said.
It said the use of only logs from legal source, as verified by an international verifying body, and PEFC certified timber as input material for its manufactured products have created competitive advantage for the group in the market.
"The additional new log source from sustainable planted forests will be an added edge," it said.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
