Lafarge Malaysia sees stable 2015 pretax profit
Lafarge Malaysia Bhd reported a pretax profit of MYR345.157m (US$82.86m) for the financial year ended 31 December 2015 versus MYR345.183m a year earlier.
Revenue rose to MYR2.75bn, up from MYR2.743bn previously, the company said in a filing to Bursa Malaysia.
Meanwhile, 4Q15 pretax profit decreased by 7.8 per cent mainly due to the one-off acquisition expenses incurred as well as higher finance cost arising from the borrowings for the acquisition of subsidiaries, it said.
Lafarge Malaysia said it maintains an optimistic outlook for the construction sector, with continued progress in key infrastructure projects and on-going commercial and residential developments announced in the Budget 2016 and the 11th Malaysia Plan.
“This year, we will continue to be driven by our ambition of Building Better Cities in Malaysia. At the same time, we will also work on maintaining efficiency in our overall operations,” said President and CEO, Thierry Legrand.
With the completion of the acquisition by the company of the Holcim Malaysia group in November 2015, it is anticipated that the enlarged group will be able to leverage on the complementary network coverage and asset base of Holcim Malaysia in the southern region of Peninsular Malaysia in 2016 to better fulfil customer demand.
Annual revenue was RM2.75 billion, up from RM2.743 billion previously, it said in a filing to Bursa Malaysia today.
Meanwhile, the Group’s current quarter pre-tax profit decreased by 7.8 per cent from RM70.4 million recorded last year to RM64.9 million.
This was mainly due to the one-off acquisition expenses incurred as well as higher finance cost arising from the borrowings for the acquisition of subsidiaries, it said.
Lafarge said it maintains an optimistic outlook for the construction sector, with continued progress in key infrastructure projects and on-going commercial and residential developments announced in the Budget 2016 and the 11th Malaysia Plan.
“This year, we will continue to be driven by our ambition of Building Better Cities in Malaysia. At the same time, we will also work on maintaining efficiency in our overall operations,” said President and Chief Executive Officer Thierry Legrand.
With the completion of the acquisition by the company of the Holcim Malaysia group on Nov 16, 2015, it is anticipated that the enlarged Group will be able to leverage on the complementary network coverage and asset base of Holcim Malaysia in the southern region of Peninsular Malaysia in 2016 to better fulfil customer demand.
The Group now has three integrated cement plants, two grinding stations, more than 40 ready-mix concrete batching plants and six aggregate quarries. ― Bernama - See more at: http://www.themalaymailonline.com/money/article/lafarge-malaysia-maintains-profit-levels-for-2015#sthash.fgD8Uznb.dpuf
Annual revenue was RM2.75 billion, up from RM2.743 billion previously, it said in a filing to Bursa Malaysia today.
Meanwhile, the Group’s current quarter pre-tax profit decreased by 7.8 per cent from RM70.4 million recorded last year to RM64.9 million.
This was mainly due to the one-off acquisition expenses incurred as well as higher finance cost arising from the borrowings for the acquisition of subsidiaries, it said.
Lafarge said it maintains an optimistic outlook for the construction sector, with continued progress in key infrastructure projects and on-going commercial and residential developments announced in the Budget 2016 and the 11th Malaysia Plan.
“This year, we will continue to be driven by our ambition of Building Better Cities in Malaysia. At the same time, we will also work on maintaining efficiency in our overall operations,” said President and Chief Executive Officer Thierry Legrand.
With the completion of the acquisition by the company of the Holcim Malaysia group on Nov 16, 2015, it is anticipated that the enlarged Group will be able to leverage on the complementary network coverage and asset base of Holcim Malaysia in the southern region of Peninsular Malaysia in 2016 to better fulfil customer demand.
The Group now has three integrated cement plants, two grinding stations, more than 40 ready-mix concrete batching plants and six aggregate quarries. ― Bernama - See more at: http://www.themalaymailonline.com/money/article/lafarge-malaysia-maintains-profit-levels-for-2015#sthash.fgD8Uznb.dpuf
