Latest financial news from EdgeDaily indicated Lingui Developments Bhd (stockcode 2011) has posted a massive jump in its net profit to RM 86.14 million for the first quarter ended Sept 30, 2006 from the RM4.56 million a year ago, mainly due to the strong improvement in timber prices and conducive weather conditions during timber harvesting.Infrastructure and development programmes in China, it said, together with furniture manufacturing in India and the construction boom in the Middle East, also augur well for timber product prices.
Coincidently, FinanceTwitter highlighted this stock at E&O-PROP, LINGUI, MULPHA, FAJAR, MBFCORP & RHB-CA previously when it triggered FinanceTwitter and MACD “Buy” signal. It will be interesting to see how this stock will react tomorrow morning.
With this excellent announcement, will the goodies spill-over to other stocks of same sector namely Ta Ann Holdings Bhd (stockcode 5012), WTK Holdings Bhd (stockcode 4243) and Jaya Tiasa Holdings Bhd (stockcode 4383) ?
Some Statistic Data on Lingui :
Revenue rose 41% to RM435.51 million from RM308.93 million while basic earnings per share improved to 13.06 cents from 0.69 cents.
In a statement, Lingui said selling prices for timber products were on an upward trend thanks to a contraction in Indonesian log supplies. Coupled with strong demand from China, Japan and India, it expects the current price trend to continue in the coming months.
November 16th, 2006 by financetwitter
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