Bursa Malaysia Stock Watch
Lingui Q2 profit rises to RM67m
kltrader
Publish date: Fri, 18 Feb 2011, 09:57 PM
kltrader
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Lingui Developments pre-tax profit for the second quarter ended Dec 31, 2010 rose to RM67 million from RM35.207 million in the same quarter in 2009.
Revenue increased to RM424.082 million from RM313.115 million.
For the six-month period, its pre-tax profit jumped to RM112 million from RM72.490 million while revenue grew to RM789.137 million from RM645.254 million.
In a filing to Bursa Malaysia today, Lingui said the better results were mainly due to the logs segment continuing to be the key contributor to the company's profits, supported by strong and sustained demand from China and India.
The factor, coupled with the monsoon season, hampering log supplies, pushed up the US Dollar selling price compared to the end of the previous financial year.
Looking ahead, the company is expected to remain robust even with the tightening of lending policies to the housing sector.
It also said the company's performance in the current year would depend much on the recovery in the US and Japan and the continued strong demand for timber from China and India.
-- BERNAMA
Revenue increased to RM424.082 million from RM313.115 million.
For the six-month period, its pre-tax profit jumped to RM112 million from RM72.490 million while revenue grew to RM789.137 million from RM645.254 million.
In a filing to Bursa Malaysia today, Lingui said the better results were mainly due to the logs segment continuing to be the key contributor to the company's profits, supported by strong and sustained demand from China and India.
The factor, coupled with the monsoon season, hampering log supplies, pushed up the US Dollar selling price compared to the end of the previous financial year.
Looking ahead, the company is expected to remain robust even with the tightening of lending policies to the housing sector.
It also said the company's performance in the current year would depend much on the recovery in the US and Japan and the continued strong demand for timber from China and India.
-- BERNAMA
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