Higher sales boost Lafarge Malaysia 1Q14

Higher sales boost Lafarge Malaysia 1Q14
23 May 2014

Lafarge Malaysia’s revenue for the 1Q14 was 4.9 per cent higher YoY to MYR676.6m (210.7m), mainly due to higher cement and aggregate sales volumes. Revenue growth was partially offset by lower sales in the aggregate and concrete division attributed to the completion of the KLIA 2 project, the group said in a statement.

The group registered net profit of MYR97.2m for the quarter, a 32.4 per cent YoY increase, mainly as a result of higher revenue from its cement division.

Compared to the preceding quarter (3Q14) revenue dropped by 9.8 per cent YoY. Pretax profit fell by MYR72.9m, mainly due to lower sales volumes and scheduled plant maintenance to coincide with the festive season during 1Q14.

Lafarge Malaysia says the outlook for the construction sector is expected to remain positive in 2014, driven mainly by the continued progress of key infrastructure projects and ongoing commercial and residential development.

Published under Cement News