Cahya Mata Sarawak Bhd sees 27% growth in 2Q net profit

Cahya Mata Sarawak Bhd, a Malaysia-based cement manufacturer has released its 2Q24 earnings, for the period ended 30 June 2024. 

The group’s revenue fell four per cent YoY to MYR277.99m (US$64.3m), primarily due to lower sales from from its cement and property development divisions of MYR15.51m.

The group’s net profit rose 27 per cent YoY, from MYR26.3m to MYR33.4m, with earnings per share of MYR0.003. The growth in net profit was supported by improved gross profit from the company’s cement and oil drilling divisions, as a result of lower clinker cost and higher margins.