Bursa Malaysia Stock Watch

Jaya Tiasa ' 9MFY04/12 core net profit rose by 24% YoY

kltrader
Publish date: Fri, 23 Mar 2012, 12:53 PM
kltrader
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Jaya Tiasa ' 9MFY04/12 core net profit rose by 24% YoY                                             Outperform
Results Note
-          9MFY04/12 core net profit was below expectations. Key variances are mainly due to lower-than-expected FFB sales volume and lower average selling prices for log in 3QFY04/12.
-          We raised our target PER for Jaya Tiasa's plantation division to 15x (from 13x), in line with the recent upgrade in our target PER for the sector. We also remove the 10% discount in our SOP fair value given the proposed corporate exercises will improve the stock's trading liquidity. Post earnings revision, fair value for Jaya Tiasa is revised to RM8.92 (from RM7.80).
Source: RHB Research 23 March 2012
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