Malayan Cement reports 98% rise in revenue

Malayan Cement Berhad, part of YTL Cement Berhad, has reported revenue of MYR2.71bn (US$605.6m) in FY2022, up 98 per cent on the previous year. Net income has come in at MYR83.5m, compared to MYR76.2m in FY2021. Profit margin over the same period has advanced from 0.5 per cent to 3.1 per cent, driven by the higher revenue. Earnings per share improved from MYR0.009 in FY2021 to MYR0.068 in FY2022. 

According to Simply Wall St, while earnings per share exceeded analyst expectations by 3.3 per cent, revenue missed analyst estimates by 9.9 per cent. Over the next three years, revenue is forecast to advance by an average of 9.4 per cent each year, compared to an 11 per cent growth forecast for the basic materials industry in Asia. 

Malayan Cement Berhad currently operates four cement plants, located in Johor Bahru, Pasir Gudang, Pulau Langkawi and Chemor.