Jawala turns in stronger profits in FY18
BOOSTED by higher revenue, Malaysian sustainable timber company Jawala Inc chalked up a profit of RM7.54 million (S$2.49 million) in FY18, up from RM1.74 million a year ago.
Revenue for the year ended July 31, 2018 more than doubled from nearly RM12 million to RM39.93 million due to higher sales volume and a higher average selling price as a result of a shortage of logs in local markets. Meanwhile, earnings per share came to RM0.06, versus a loss per share of RM0.01 previously.
In an update on the temporary ban on the export of logs from Sabah until further notice, Jawala said that the ban would not have a material adverse impact on the company as it currently does not export its logs.
It expects growth to be underpinned by strong demand for certified sustainable timber amid increasing international awareness of sustainability.
An ordinary dividend of S$0.004 per share has been declared; subject to approval by shareholders at an annual general meeting, the dividend is to be paid on Dec 10.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Middle East violence heightens market fears of rate hikes, inflation
Tokyo's Nikkei drops more than 1,000 points, most in 3 years
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Inside TSMC chairman Mark Liu's short but impactful reign
CSE Global bags US$36.5 million data centre contract extension