Hume Cement doubles profits

Malaysia’s Hume Cement Industries has reported net profit of MYR61.06m (US$13.04m) in the third quarter of the current financial year, ended 31 March 2024. This has more than doubled compared to the same period a year earlier. Revenue over the same time frame advanced from MYR289m to MYR310.4m. According to the company, the increase in revenue and profit was due to lower manufacturing costs, coupled with a higher cement average selling price and higher sales volumes. 

For the first nine months of the current financial year, profit stood at MYR168.45m, up from MYR19.44m in the same period a year earlier, while revenue increased from MYR751.05m to MYR939.31m.