KUALA LUMPUR (Feb 20): Lingui Developments Bhd reported a 19.4% decline in earnings to RM45 million from RM55.87 million a year ago due to on changes in fair value of its biological assets less estimated point-of-sale costs.
It said on Monday that the performance of the group in the second half of the financial year was expected to be under much pressure unless demand of logs from China and India improves and post-earthquake reCONSTRUCTION [] activities in Japan accelerate.
Its revenue increased by 17.1% to RM496.89 million from RM424.08 million while earnings per share were 6.82 sen compared with 8.47 sen.
For the first half, its earnings fell 82.1% to RM16.93 million from RM94.88 million in the previous corresponding period mainly due to the changes in the fair value of biological assets. Its revenue increased by 18.1% to RM931.90 million from RM789.13 million.
On a year-to-date basis, the group recorded operating profit before changes in fair value of biological assets less estimated point-of-sale costs of RM45.4 million.
It said on Monday that the performance of the group in the second half of the financial year was expected to be under much pressure unless demand of logs from China and India improves and post-earthquake reCONSTRUCTION [] activities in Japan accelerate.
Its revenue increased by 17.1% to RM496.89 million from RM424.08 million while earnings per share were 6.82 sen compared with 8.47 sen.
For the first half, its earnings fell 82.1% to RM16.93 million from RM94.88 million in the previous corresponding period mainly due to the changes in the fair value of biological assets. Its revenue increased by 18.1% to RM931.90 million from RM789.13 million.
On a year-to-date basis, the group recorded operating profit before changes in fair value of biological assets less estimated point-of-sale costs of RM45.4 million.
