Malaysia’s Cahya Mata Sarawak Berhad (CMSB) has released its results for 1Q14. During the period, the company’s pre-tax profit (PBT) grew by 21% y/y to reach RM66.19 million. Revenue improved to reach RM373.24 million and profit after tax and non-controlling interests increased from RM28.73 million in 1Q13 to RM38.9 million in 1Q14. The rise in pre-tax profit has been attributed to ‘solid PBT earnings’ in CMSB’s cement, construction and road maintenance, and property development operations. A slight fall of 3% y/y in PBT for the cement division was down to the need for repair and maintenance at the company’s clinker plant in February and March 2014. As a result, PBT for the cement division came in at RM20.44 million compared to RM21.09 million in the corresponding period in 2013.
“This has been an important quarter for us in terms of meeting performance against targets, which is a credit to our professional and prudent management and staff. Significant achievements have been recorded namely by the Construction Materials & Trading, Construction & Road Maintenance and Property Development Divisions, which saw robust rises year-on-year in PBT by 12%, 2% and 4428% respectively. The result for 1Q14 is viewed positively, as it reassures that the Group is on track to perform solidly in its financial results for the full year of 2014,” said Dato’ Richard Curtis, Group Managing Director of CMSB.
CMSB is investing RM190 million in a third cement grinding plant in Mambong. A contract for the new plant is expected to be signed next month, according to local reports. The plant will have a production capacity of 1 million t.
The company has a 40% stake in a phosphate products complex with Malaysian Phosphate Addiitves Sdn Bhd and Arif Enigma Sdn Bhd. The 500 000 t phosphorous plant will be located in Bintulu’s Samalaju Industrial Park. The EPC contract is due to be finalised next month.
Edited from various sources by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/16052014/cahya_mata_sarawak_berhad_releases_1q14_results_206/