KUALA LUMPUR: Luxchem Corp Bhd
said it remains cognisant of several key challenges to its outlook but will continue to improve its productivity and efficiency to face these uncontrollable external factors.
Among these challenges, it cited the US$/RM exchange rate, raw material price fluctuations, raw material demand and supply situations, stiff competition and on-going global geopolitical conflict.
In a filing with Bursa Malaysia, the industrial chemicals firm announced an improved set of results for the second quarter ended June 30, 2024 (2QFY24), with a net profit of RM12.2mil, up from RM9.42mil in the same quarter last year.
Revenue for the quarter stood at RM210.2mil as compared to RM157.56mil in 2QFY23, while earnings per share was 1.14 sen against 0.88 sen in the comparative quarter.
For the cumulative six months period, the group's net profit was RM23.76mil against RM16.92mil in 6MFY23 while revenue rose to RM393.35mil from RM310.4mil in the same period in 2023.
It attributed the improved performance to higher sales in both its trading and manufacturing segments.
The board of directors declared an interim dividend of 0.8 sen per share, going ex on Aug 8, 2024, and payable on Aug 30, 2024.
