KUALA LUMPUR (Feb 28): Ta Ann Holdings Bhd posted a 53.5% lower net profit in its fourth quarter ended Dec 31, 2016 (4QFY16) at RM28 million or 6.3 sen per share from RM60.3 million or 13.56 sen per share a year ago. Full year net profit dropped 35.4% to RM121.6 million or 27.36 sen per share from RM188.2 million or 42.34 sen per share, while revenue gained 9.4% to RM1.1 billion compared to FY15's RM1.05 billion. For FY17, Ta Ann expects timber demand to improve due to favourable economic environment. Barring unforeseen circumstances, Ta Ann is confident of a satisfactory performance for 2017. Its share price closed one sen or 0.26% higher at RM3.88 for a market capitalisation of RM1.7 billion.

Source: The Edge Markets February 28, 2017 12:42 UTC