WTK 4243 Share Price

The Group recorded a profit before tax of RM21.7 million in FY2022, an increase of RM31.0 million as opposed to a loss before tax of RM9.3 million in FY2021, mainly attributed to lower loss before tax from the timber segment and the one-off gain from bargain purchase of RM20.8 million recognised by food segment. For the plantation business, The Group is pursuing ongoing initiatives to achieve greater mechanisation and yield improvements wherever possible. These efforts are aimed at enhancing the operational efficiency to optimise costs and boost profitability. With increasing palms entering high yielding age group and the proposed acquisition of B.H.B. Sdn. Bhd., the plantation business is expecting to achieve an improved performance for the financial year ending 31 December 2023. while for the Tapes business, the Group is upgrading the plants and machineries to expand the products range and to improve operational efficiency and cost competitive advantage. With the effective marketing strategy and strong supply chain management, the tapes business is expecting to perform satisfactory for the financial year ending 31 December 2023.

The Group recorded revenue of RM104.2 million, an increase of RM5.0 million or 5.1% as compared to the preceding quarter of RM99.2 million. The Group’s profit before tax in 1Q2022 decreased by RM0.2 million to RM0.7 million as compared to 4Q2021’s profit before tax of RM0.9 million. The lower profit before tax in 1Q2022 was attributed to lower profit contributed by the plantation segment.

The Group’s registered a profit before tax of RM2.9 million in current quarter, as opposed to a loss before tax of RM0.8 million in preceding quarter, mainly attributed to reduced losses incurred by the timber segment in the current quarter.

For 1Q2021 under review, the Group’s revenue was RM86.5 million, a decrease of RM2.1 million as compared to the preceding quarter (“4Q2020”) of RM88.6 million. The Group’s loss before tax has decreased by RM7.4 million or 38% to RM12.2 million in 1Q2021 as compared to 4Q2020’s loss before tax of RM19.6 million. Lower loss before tax recorded in 1Q2021 was mainly attributed to improved performance from the plantation segment.

Higher loss before tax recorded in 3Q2020 was attributed by the impairment and written of assets of RM83.7 million, and loss arising from changes in fair value of biological assets of RM23.4 million, reflecting the impact of uncertainties in macroeconomic and COVID19 pandemic to the business of the Group. The impairment and written off of assets were mainly related to the timber operations in view of the depressed market conditions and prices of timber products

The Group’s loss before tax has reduced by RM3.1 million or 16.1% to RM16.5 million in 2Q2020 as compared to 1Q2020’s loss before tax of RM19.6 million. The lower loss before tax during the quarter mainly attributed to the cost optimisation measures implemented in Timber segment. Plantation segment registered a lower loss before tax mainly due to the increase in sales volume of CPO and PK during the quarter.

The Group’s loss before tax was reduced by RM37.8 million or 65.8% to RM19.6 million in 1Q2020 as compared to 4Q2019’s loss before tax of RM57.4 million. The higher loss before tax in 4Q2019 was mainly attributed to the one-off non-cash items such as changed in fair value of biological assets of RM4.4 million and one-off impairment of goodwill amounted to RM19.6 million

In Financial Year End 2018, the directors’ remuneration was 3.05 million. It was slightly low compared to average in listed companies, considering the employees’ remuneration of 106 million and auditor’s remuneration of 926 thousands