Below expectations. WTK’s 1QFY12/10 recorded a net loss of RM2.0m (improvement of +84.5% yoy), which was below our but within consensus expectations. Key variance was mainly due to the drop in average selling prices of logs qoq by 2-3%, instead of our expectation of an increase of c.5% qoq. The lower average selling prices of logs was attributable to the poorer quality of logs qoq, due to unfavourable weather conditions. As such, we have adjusted down our average selling prices for logs by 3% p.a. for FY10-12.
WTK Holdings Berhad : Earnings Expected To Pick Up From 2QFY12/10 - 1/6/2010
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