Cahya Mata Sarawak sees net profits of MYR77.8m in 1QFY21

Cahya Mata Sarawak Bhd (CMS) recorded a 3.5-fold higher net profit of MYR77.8m (US$18.8m) for the first quarter ended 31 March 2021 compared with MYR17.28m in the same period last year.

Revenue increased to MYR202.06m from MYR189.44m in 1QFY20. CMS said the revenue increased seven per cent due to higher contributions from the cement, trading and property development divisions.

"The cement division reported a higher revenue of MYR128.17m attributed to lower clinker purchase price, lower labour cost, and discharging costs which have led to a lower cement cost of production," said CMS.

"The quarry and premix sectors, now the group's joint ventures under the construction materials and trading division are expected to remain strong in 2021 due to continuing demand for quarries and premix products," CMS added.