Tuesday, July 23

CMS sees 1Q19 profit rising 10 pct to RM62.44 million

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The improvement in the group’s financial performance during this period was mainly due to the strong performance by its traditional core businesses, namely Cement Division, Construction Materials & Trading Division and Property Development Division.

KUCHING: Cahya Mata Sarawak Bhd reported a total revenue of RM418.18 million and a pre-tax profit (PBT) of RM62.44 million for the first quarter ended March 31, 2019 (1Q19).

Both its revenue and PBT increased by 18 and 10 per cents respectively, in comparison to the preceding year’s corresponding quarter’s revenue of RM354.99 million and PBT of RM56.96 million.

Year-on-year, the group’s profit after tax and non-controlling interests (PATNCI) of RM40.76 million for the period was five per cent higher than RM38.98 million reported for 1Q18.

Earnings per share (EPS) stood at 3.80 sen versus 3.63 sen from the corresponding three-month period of last year.

The improvement in the group’s financial performance during this period was mainly due to the strong performance by its traditional core businesses, namely Cement Division, Construction Materials & Trading Division and Property Development Division.

Commenting on the results, CMS group chief executive officer – corporate, Datuk Isaac Lugun in a statement said: “The strong performance for the first quarter of this year is in line with our projections and expectations of a full rebound once businesses and other economic factors had normalised post GE14.

“Our traditional core businesses, particularly our Cement Division lead the charge. 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.”