Jaya Tiasa returns to profitability

TheStar Thu, Sep 23, 2021 07:40am - 2 years View Original


Good showing: Jaya Tiasa’s timber products are seen in this file picture. Its timber division turned around in the fourth quarter.

PETALING JAYA: Jaya Tiasa Holdings Bhd returned to profitability in the fourth quarter ended June 30, 2021, driven by stronger revenue from the oil palm division and the turnaround in its timber division.

A lower provision for impairments in the three-month period also boosted the bottomline.

In a filing with the stock exchange, the group said it recorded a net profit of RM18.8mil in the fourth quarter, as compared to a net loss of RM34.67mil in the previous corresponding quarter. The group’s overall revenue rose 44.27% year-on-year (y-o-y) to RM198.9mil from RM137.86mil.

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