CMS sees strong start to the year, Malaysia

CMS sees strong start to the year, Malaysia
18 June 2015

Caha Mata Sarawak Bhd (CMS) reported a total revenue of MYR491m (US$132.3m) for the first quarter of 2015, an increase of 32 per cent from MYR373.24m a year earlier. Pretax profit of MYR95.01m in 1Q15 was 44 per cent up on the MYR66.19m in 1Q14.

Profit after tax and non-controlling interests increased by 48 per cent to MYR57.42m from MYR38.9m in 1Q14. Earnings per share stood at 5.52 sen versus 3.81 sen (adjusted for share split and a bonus issue in June 2014) from the corresponding period of 2014.

The main contributors towards the strong profit before tax earnings in the first three months of this year were the Construction Materials & Trading, Cement and Construction & Road Maintenance divisions. The Construction Materials & Trading Division recorded a 145 per cent YoY increase in pretax profit of MYR30.32m. The Cement division reported a pretax profit of MYR29.37m for 1Q15, exceeding the year-ago result by 44 per cent.

Commenting on the “better-than-expected” results, Richard Curtis, group managing director of CMSB, said that 1Q15 has been important for the group in “in terms of taking advantage of strong local demand for our products and services.”

The Sarawak state’s promotion of energy intensive industries under the Sarawak Corridor for Renewable Energy (SCORE) initiative and the infrastructure related services across the state are expected to “propel the state’s economy and CMSB to new heights,” added Mr Curtis.

Published under Cement News