Lingui's Q2 Quarterly Earnings

In a seperate announcement, Lingui reported its quarterly announcement.

And the Edge had a write-up:

• Lingui 2Q profit surges to RM76m 29 Jan 2007 7:35 PMLingui Developments Bhd net profit for the second quarter (2Q) ended Dec 31, 2006 surged to RM76.13 million from a net loss of RM2.34 million a year ago due to favourable timber prices.
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This is what reported in that article.

• Lingui 2Q profit surges to RM76m
  
  Lingui Developments Bhd net profit for the second quarter (2Q) ended Dec 31, 2006 surged to RM76.13 million from a net loss of RM2.34 million a year ago due to favourable timber prices.
  
  The company told Bursa Malaysia on Jan 29 that its revenue improved by 38.18% to RM409.87 million from RM296.61 million during the period under review.
  
  Earnings per share were 11.54 sen from a loss per share of 0.35 sen.
  
  For the first half up to Dec 31, 2006, Lingui's net profit soared to RM162.27 million from RM2.23 million during the first six months last year.
  
  Revenue jumped nearly 40% to RM845.38 million from RM605.55 million in the previous corresponding period.
  
  Lingui said the price outlook for timber products remain buoyant due to contraction of Indonesian log supply in line with the Indonesian authorities' continuing curb on illegal logging as well as proposed logging moratorium in critical areas following widespread flooding last December.
  
  “With continuous support from markets like Japan, China and India, the group anticipates the price trend to be sustained in the forthcoming months. China and India would remain strong markets with their rapid infrastructure and development programmes,” the company said.
  
  Lingui said although prices of timber products remained strong, adverse weather conditions would impact upon the group's performance.
  
  Shares of Lingui closed at six-and-a-half year high of RM2.89 after adding 24 sen with 13.89 million units done on Jan 29.