Friday, November 25, 2011

Cahya Mata Sarawak 3Q net profit up 42.74% to RM38.17m

KUALA LUMPUR (Nov 25): CAHYA MATA SARAWAK BHD [] (CMSB) net profit for the third quarter ended Sept 30, 2011 rose 42.74% to RM38.17 million from RM26.74 million a year earlier, driven mainly by its ''manufacturing division.

The company said on Friday that its revenue for the quarter increased 3.57% to RM240.76 million from RM232.46 million in 2010.

Earnings per share for the quarter rose to 11.59 sen from 8.12 sen in 2010, while net assets per share was RM4.22.

CMSB's net profit for the nine months ended Sept 30 rose to RM96.59 million from RM46.18 million in 2010, on the back of an increase in revenue to RM725.09 million from RM659.43 million.

Reviewing its performance, CMSB said its earnings continued to be mainly driven by its manufacturing division followed by the CONSTRUCTION [] & road maintenance and the construction materials divisions.

The manufacturing division, being the key driver and largest contributor to the group's profitability, continued to achieve higher profit due to higher sales volume and an upward revision of prices, it said.

'All Divisions reported higher profits except for construction material and trading divisions which were affected by delay in projects.

'Whilst the operating environment faced by the group will remain challenging, the board expects that the group's financial performance will continue to remain favourable and prospects for the year to be good,' it said.




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