Mentiga Corporation Berhad announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported revenue of MYR 7,350,000 against MYR 1,778,000 a year ago. Profit before tax was MYR 3,388,000 against loss of MYR 671,000 a year ago. Profit for the period was MYR 3,782,000 against MYR 2,203,000 a year ago. Profit attributable to owners of the parent was MYR 3,784,000 or 5.40 sen per basic share against MYR 2,207,000 or 3.15 sen per basic share a year ago.

For the year, the company reported revenue of MYR 12,214,000 against MYR 12,685,000 a year ago. Profit before tax was MYR 1,150,000 against MYR 788,000 a year ago. Profit for the period was MYR 1,536,000 against MYR 3,578,000 a year ago. Profit attributable to owners of the parent was MYR 1,538,000 or 2.19 sen per basic share against MYR 3,582,000 or 5.12 sen per basic share a year ago. Net cash generated from operating activities was MYR 6,975,000 compared to MYR 7,336,000 for the same period a year ago. Acquisition of property, plant and equipment was MYR 117,000 against MYR 133,000 a year ago. Plantation expenditure was MYR 4,093,000 against MYR 5,632,000 a year ago. The higher revenue compared to the previous year was due to recognition of higher income from timber segment.

Barring any unforeseen circumstances, the board of directors is of the view that the group will record favorable performance for the financial year ending December 31, 2018.