CMS sees 3Q profit rise

Malaysia's Cahya Mata Sarawak Bhd (CMS) reported 3Q17 consolidated revenues of MYR347.968m (US$85.12m), down 2.3 per cent from MYR356.06m in 3Q16.

Profit before tax edged up from MYR94.744m in 3Q16 to MYR95.58m one year later while profit attributable to ordinary equity holders of the parent company rose 5.7 per cent YoY from MYR58.715m to MYR62.04m. The group attributed the improvement in profit to lower production costs in the cement division.

In its outlook, CMS expected the operating environment to remain challenging, but the group’s healthy financial position would help ease any issues arising.

The company said: it remained "focussed on growing our portfolio of businesses by taking advantage of the business opportunities in Sarawak."

"Our strong fundamentals and resilience will enable us to perform and to deliver a satisfactory financial performance for 2017.

"Coupled with other measures that the management is taking, we are positioning for long-term sustainable revenue and profitability growth," it added.