PETALING JAYA: Luxchem Corp Bhd
’s net profit for the third quarter ended Sept 30, 2024 (3Q24) saw a 26% decline year-on-year (y-o-y), due to higher administrative costs and lower profits from its operating segments.
In a filing with Bursa Malaysia, the plastic material and resin manufacturer’s said its net profit for 3Q24 stood at RM6.7mil from RM9.1mil in 3Q23. This translates to an earnings per share of 0.62 sen from 0.85 sen previously.
This was despite the higher revenue which rose by 18% y-o-y to RM196.1mil in 3Q24, underpinned by improved performance for both its trading and manufacturing segments.
Meanwhile, for the nine months ended Sept 30, 2024, Luxchem’s net profit grew by 17% y-o-y to RM30.4mil and revenue was also up by 24% to RM589.4mil in the same period.
Going forward, Luxchem continues to caution against challenges like the US dollar and ringgit exchange rates, raw material price fluctuations, raw material demand and supply situations, stiff competition as well as the on-going global geopolitical conflicts, as factors that would impact its performance.
