Lafarge Malayan’s revenue for 1QFY12 rose by 7% YoY to MYR644m due to higher output during the quarter (+1% nationwide in January and February 2012) and selling prices (+4% YoY nationwide to CNY331/t in 1Q).
Though the 7% electricity tariff hike in May 2011 pushed energy costs higher, total costs increased by 5%, slower than top line growth due to efficiency gains. As a result, EBITDA rose by 16% to MYR127m.
Net profit contribution from associates surged by 86% due to a better performance from Singapore. Pre-tax profit advanced 27% to MYR87m.
After adding back non-core losses due to allowances and foreign exchange movements, core net profit rose by 33%.
Second half demand is expected to be stronger as mega projects pick up, analysts at CIMB IB Research note. (Source: Edge Financial Daily, Malaysia)