A Johor based company produces wood based products such as medium density fiberboard, particleboard and a wide range of wooden furniture. The company also manufactures downstream products such as paper, veneer, printed, melamine board laminations and knock down furniture.
Its products are mainly exported to Middle East and SEA.
Following weak demand from the Middle East, a supply glut in fiberboard and wood products and rising production and logistic costs, Evergreen fell into the red in 2014 for the first nine since its listing in 2005.
It posted net losses of rm42.8 million in 2013, from net profit of rm32.2 million 2012. This trend continued into 2014, with net losses of rm14.2 million so far for the first nine months of 2014. As its peak, the company chalked up net profit of just under rm120 million in 2007 and 2010.
Its balance sheet has a net gearing of 32.5% with its last dividend paid of 1 sen per share in 2012. No dividends were paid in 2013.
Its outlook are uncertain due to its earnings.
No comments:
Post a Comment