PETALING JAYA: Cahya Mata Sarawak Bhd
remains cautiously optimistic of its prospects this year and expects cement demand to pick up in the second half of the year, driven by infrastructure projects.
For the second quarter ended June 30, 2024, the group’s net profit was up by 27% year-on-year (y-o-y) to RM33.4mil or earnings per share of 3.11 sen, underpinned by improved gross profit from the cement and oiltools divisions due to lower clinker cost and product mix with higher margins respectively.
Revenue, however, fell by 4% y-o-y to RM277.99mil mainly due to lower sales from the cement and property development divisions of RM15.51mil.
The first and final tax-exempt (single-tier) dividend of two sen per ordinary share for the financial year ended Dec 31, 2023 amounting to RM21.5mil was paid on June 28, 2024.
