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TH Plantation posts higher Q2 pre-tax profit

TH Plantations Bhd (THP) pre-tax profit for the second quarter ended June 30, 2011 surged to RM54.24 million from RM12.54 million in the same period last year.

Revenue jumped to RM112.71 million from RM76 million previously due to higher commodity prices for crude palm oil, palm kernel and fresh fruit bunches, it said in a filing to Bursa Malaysia today.

For the six-month period ended June 30, 2011, pre-tax profit rose to RM84.91 million from RM39.74 million in the same period last year. Revenue increased to RM187.76 million from RM153.21 million previously.

"This (higher profit) was also mainly due to higher commodity prices and higher gross profit margin," it said.

THP said notwithstanding the volatility of the commodity prices, the company was optimistic of sustaining its current satisfactory performance. -- Bernama

Read more: TH Plantation posts higher Q2 pre-tax profit http://www.btimes.com.my/Current_News/BTIMES/articles/20110721203951/Article/index_html#ixzz1Skt2XN24

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The estimated 2011 EPS = 26 sen.
Based on PER 10x = RM2.60. PER 12x = RM3.12

ACCUMULATE AT THIS LEVEL. POTENTIAL UPSIDE OF 23%-47%. For those investor looking for min investment return of 20% can consider THPLANT.

GOOD LUCK!