JTB ... Sep11

Tin can manufacturer Johore Tin Bhd (JTB) has witnessed the growth of its customers involved in dairy products, in particular the condensed milk segment. It now wants a slice of that pie, which it expects will contribute handsomely to its future earnings.

JTB has supplied tin cans to the leading condensed milk manufacturers in the country — Fraser & Neave Holdings Bhd (F&N) and Etika International Holdings Ltd.

For the six months ended June 30, JTB posted revenue of RM54.2 million and net profit of RM4.16 million. Annualised, its revenue and net profit for FY11 could come in at RM108.4 million and RM8.33 million. In FY10, group revenue and net profit were RM95.6 million and RM6.27 million.

As at June 30, JTB had cash reserves of RM15.63 million against total borrowings of RM18.93 million. Its net assets per share stood at RM1.49.

Its customers are in the food industry which produces products such as biscuits, edible oil, ghee, processed food, beverages, SCM and pineapples, while its other customers are in the industrial sector with products such as paints and chemicals.