CMS Bhd 1Q pretax profit up 44%, Malaysia

Sarawak-based Cahya Mata Sarawak Bhd (CMSB) reported a 44 per cent rise in pretax profit for the first quarter of 2015 to MYR95.01m, driven by its Construction & Materials Trading, Cement and Construction & Road Maintenance divisions.

The Cement division reported a pretax profit of MYR29.37m for 1Q15, exceeding the previous year (MYR20.44m) by 44 per cent. The Construction Materials & Trading Division recorded a pretax profit of MYR30.32m in 1Q15, a 145 per cent increase versus MYR12.38m in 1Q14.  The Construction & Road Maintenance and Property Development Divisions also reported strong revenue and PBT to contribute towards the Group’s results for 1Q15.

Total group unaudited revenue of MYR491m in 1Q15  rose by 32 per cent from the previous year. Profit after tax advanced by 48 per cent YoY to MRY57.42m. Earnings per share stood at 5.52 sen versus 3.81 sen a year earlier.

 Commenting on the results, Dato’ Richard Curtis, Group Managing Director of CMSB said: “Significant achievements have been recorded namely by the Construction Materials & Trading, Cement and Construction & Road Maintenance Divisions. With commendable performance recorded in 1Q15, we expect to leverage on this positive momentum and record a strong financial performance for the full year of 2015.

“We believe that CMSB is still one of the best proxy listed investments for Sarawak’s accelerating economic growth. This is consistent with the State’s promotion of energy intensive industries under the Sarawak Corridor for Renewable Energy (SCORE) initiative and the infrastructure and related services required across the State. These two drivers are set to propel the state’s economy and CMSB to new heights.”

CMS Bhd is a leading corporation listed on the Main Market of the Malaysian stock exchange, Bursa Malaysia, and is a major private-sector player in Sarawak, the largest state in Malaysia.