Malayan Cement reports 156% increase in pretax profit

Malayan Cement Bhd, majority-owned by YTL Cement Bhd, has reported notable financial results for FY23-24 (ending 30 June 2024). The Malaysian building materials group posted a revenue of MYR4.45bn (US$1.02bn), representing an 18 per cent YoY growth from MYR3.76bn in the previous year. This rise was primarily driven by stabilised domestic cement prices and operational efficiencies across its business segments. Profit before tax surged to MYR647.5m, marking a significant 156 per cent increase compared to MYR253.1m in FY22-23.

The Cement segment, MCB’s primary revenue driver, recorded MYR3.36bn in revenue, up 17 per cent YoY, benefitting from improved pricing and cost controls. Additionally, the Aggregates & Concrete division contributed MYR1.09bn, a 24 per cent rise due to higher ready-mix concrete prices and enhanced operational efficiency.

This growth trajectory reflects MCB’s strategic focus on efficiency improvements and sustainable practices. The company's operational advancements included investments in low-carbon cement alternatives, which align with its commitment to reducing CO₂ emissions across production processes.