CMS sees 51% rise in profit

Malaysia-based Cahya Mata Sarawak Bhd (CMS) has reported a 15.4 per cent rise in unaudited revenues to MYR354.987m (US$89.7m) in the quarter ended 31 March 2018 from MYR307.679m in the corresponding quarter of 2017.

Profit before tax rose 27.8 per cent from MYR44.852m in 1Q17 to MYR56.958 in 1Q18 while profit attributable to ordinary shareholders of the parents advanced by 50.7 per cent to MYR38.977m from MYR25.864m in 1Q17. 

“For FY2018, we also expect to see upsides for quarry products and cement-based materials as the Pan Borneo Highway project gathers momentum, therefore boosting earnings from our traditional core businesses,” said CMS CEO - Corporate, Dato Isaac Lugun.