Malayan Cement swings into the black in 2QFY21-22

Malaysia-based cement producer Malayan Cement Berhad reported a surge in revenues to MYR821.045m in the 2QFY21-22 (ending 31 December 2021, up from MYR350.47m in the 2QFY20-21.

The company also turned a pretax loss of MYR-6.398m in the 2QFY20-21 to a pretax profit of MYR79.344m in the 2QFY21-22. Net profit in the second quarter reached MYR54.918m, a significant improvement when compared with the equivalent period of the previous year, when the company reported a loss of MYR-4.897m.

First-half results
Malayan Cement posted a 53.9 per cent YoY rise in revenues to MYR1105.522m (US$263.2m) in the first half of FY21-22, up from MYR718.377m in the 1HFY20-21.

Pretax profit reached MYR47.073m in the 1HFY21-22, a marked improvement when compared with the loss of MYR-5.078m in the first half of the previous financial year. Net profit also advanced from a MYR-6.214m to MYR31.171m over the same period.