BUSINESS

HUME CEMENT RETURNS TO BLACK IN 1Q WITH RM48.33 MLN NET PROFIT

16/11/2023 07:40 PM

KUALA LUMPUR, Nov 16 (Bernama) -- Hume Cement Industries Bhd returned to the black in the first quarter ended Sept 30, 2023 with a net profit of RM48.33 million compared to a RM12.04 million net loss in the same period a year ago.

Revenue for the quarter under review jumped to RM306.66 million from RM206.79 million previously, a Bursa Malaysia filing said today.

The increase in revenue was mainly due to a revision in the selling price of cement to mitigate the rise in energy costs and the higher cement sales volume due to a recovery in construction activities, the filing said.

The company said the construction sector is expected to continue its growth and the demand for cement will benefit from the rise in development expenditures as announced in Budget 2024.

“However, the board remains cautious, as the uncertainties arising from geopolitical pressures continue to challenge the cement industry's input costs. The group is increasing its focus to develop sustainable construction materials in this growing economy while continuing its efforts to enhance operational excellence,” the filing said.

-- BERNAMA

 

 


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