In line. Ta Ann recorded 1QFY12/10 net profit of RM8m (-8.3% yoy). Although this only accounts for 8% of our and consensus expectations, we consider this to be in line as we expect sales volume and average selling prices of plywood, to pick up from 2Q onwards following a seasonally weak 1Q. Ta Ann has also declared an interim dividend of 3 sen (less 25% tax) during the quarter, in line with our full year expectations of 7 sen.
Ta Ann Holdings Berhad : Earnings Expected To Pick Up From 2QFY12/10 - 31/5/2010
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