CMS cement division sees decline in pretax profit

CMS cement division sees decline in pretax profit
02 March 2016

Cahya Mata Sarawak Bhd (CMS) of Malaysia said group revenue rose seven per cent to MYR1.79bn (US$430m) in 2015 from MYR1.67bn a year earlier, mainly driven by the Construction Materials & Trading Division and Construction & Road Maintenance Division.

Group pretax profit increased by 12 per cent to MYR381.65m in 2015 from MYR341.45m in 2014, primarily due to higher revenue recorded by the two previously-mentioned divisions and higher share of results of associates contributed by a newly-acquired associate.

The cement division recorded a 14 per cent drop in pretax profit of MYR103.17m over 2014 despite revenues increasing by two per cent. The decline was attributed to higher cost in raw materials and imported cement which arose from the stronger US dollar.

Published under Cement News