Malayan Cement deliver strong financial performance
Published by Alfie Lloyd-Perks,
Editorial Assistant
World Cement,
Malayan Cement recorded a 2% increase in revenue to RM1,170.4 million for the 3 months ended 30 September 2024 compared to RM1,148.1 million for the previous corresponding 3 months ended 30 September 2023.
Profit before tax grew 31% to RM203.1 million for the 3 months under review compared to RM154.6 million for the same quarter last year, whilst profit after tax rose 45% to RM139.6 million this quarter over RM96.1 million for the same quarter last year.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, “Revenue for the current quarter was comparable to the corresponding quarter last year, with the ready-mixed concrete segment contributing a higher share of revenue mainly due to increased demand for high grade ready-mixed concrete and bespoke products. The increase in profit before tax was mainly the result of ongoing improvements in operational efficiencies and lower production costs”.
EBITDA (earnings before interest, tax, depreciation and amortisation) increased 17% to RM339.2 million for the 3 months ended 30 September 2024, compared to RM291.2 million for the previous corresponding 3 months ended 30 September 2023.
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Read the article online at: https://www.worldcement.com/asia-pacific-rim/28112024/malayan-cement-deliver-strong-financial-performance/
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