In line. 9MFY04/10 net profit of RM17.6m (+33.3% yoy) came in within our and consensus expectations, coming in at 64% and 61% of forecasts, respectively. We consider this to be in line as we expect 4Q10 to remain firm qoq due to gradual recovery in the timber division coupled with higher CPO prices (+4-5% qoq). As expected, no dividend was declared during the quarter.
Jaya Tiasa Holdings Berhad :Gradual Recovery Expected - 25/03/2010
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