[%acjo%] 
Research by Kenanga
Market Perform – TP of MYR 4.00

“Weak Timber Earnings Weigh ” 

TAANN’s 1QFY24 results met our forecast but disappointed the market. Its 1QFY24 core net profit eased 9% YoY as improved plantations profits were more than offset by weaker timber earnings. Lower cost at its plantation operation will continue to drive earnings. We maintain our forecasts, TP of RM4.00 and MARKET PERFORM call.

Analyst(s):
Teh Kian Yeong 
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$KLSE-TAANN 
Research by Kenanga
Market Perform – TP of MYR 4.00

“Weak Timber Earnings Weigh ” 

TAANN’s 1QFY24 results met our forecast but disappointed the market. Its 1QFY24 core net profit eased 9% YoY as improved plantations profits were more than offset by weaker timber earnings. Lower cost at its plantation operation will continue to drive earnings. We maintain our forecasts, TP of RM4.00 and MARKET PERFORM call.

Analyst(s):
Teh Kian Yeong 
tehky@kenanga.com.my