Lafarge Malaysia's 3Q14 pretax down 54.2%

Lafarge Malaysia's 3Q14 pretax down 54.2%

Lafarge Malaysia reported a 54.2 per cent drop in third-quarter pretax profit on lower revenue and higher operating cost arising from the increase in electricity and fuel prices.

Pretax profit for the three months to the end of September 2014 plunged to MYR73.9m (US$21.98m) from MYR161.41m a year earlier, the country's largest producer said in a statement released yesterday.

Revenues over the three month period fell to MYR664.63m from MYR728.01m in 3Q13. The decline in sales mainly attributable to the lower revenue from cement segment principally due to the lower domestic selling prices as a result of keen competition.

Net profit during the review period fell 54.4 per cent to MYR54.81m from MYR120.22m in the comparative quarter of 2013.

Lafarge's cumulative nine-month net profit fell to MYR206.06m from MYR255.97m a year earlier.