Cahya Mata Sarawak reports 5% rise in net profit

Cahya Mata Sarawak reports 5% rise in net profit
15 May 2019

Malaysia's Cahya Mata Sarawak Bhd (CMS) has announced a five per cent YoY increase in net profit to MYR40.76m (US$9.76m) from MYR38.98m for the first quarter of 2019, with the rise attributed to a stronger performance across its core businesses. Quarterly revenue advanced 17.8 per cent to MYR418.8m, compared to MYR354.99m in the year-ago period.

The company’s cement division reported a 67 per cent higher profit before tax in the quarter due to higher sales and lower clinker production cost, alongside a 24 per cent higher production volume and lower repair costs.

"Going forward, we expect the rebound to continue and to be driven by the ongoing Pan-Borneo Highway project and the state government's increased spending on infrastructure," said Datuk Isaac Lugun, group CEO, CMS.

Published under Cement News