Lafarge Malaysia reports 3% fall in revenue for 1Q18

Lafarge Malaysia Bhd has announced that its net loss widened in the 1Q18 period, increasing to MYR68.73m (US$17.27m) from MYR48.93m of the previous year. Furthermore, revenue fell 2.7 per cent to MYR546.83m (1Q17: MYR561.85m).

The results have been attributed to weak demand and a competitive market, according to a statement by the company.

"Lower operating profit from the cement segment is due to weak demand, coupled with a more competitive environment. The situation was further exacerbated by the increase in coal and petcoke prices and one-off gain on disposal of land and higher foreign exchange gain recorded in the corresponding quarter last year," Lafarge said.