Luxchem Q2 earnings down by one-third to RM8.65m, shares fall

Luxchem Corporation's share price fell 17 sen to RM2.05 afteer Q2 earnings fell about one-third to RM8.65mil

KUALA LUMPUR: Luxchem Corporation Bhd's earnings fell 33.5% to RM8.65mil in the second quarter ended June 30, 2017 on lower contribution from its trading and manufacturing segment.

Luxchem, which produces industrial chemicals, unsaturated polyester resins and latex chemical dispersion, said on Wednesday its revenue was however up 15.5% to RM203.11mil from RM175.85mil a year aog.

Its earnings per share were 3.12 sen compared with 4.86 sen. It declared an interim dividend of 2.5 sen, similar to a year ago.

According to the notes to the accounts, the lower earnings were also due to the absence of other operating income the previous year. Administrative expenses and finance costs had also increased.

In the first half, its earningr rose 11.1% to RM22.26mil from RM20.03mil in the previous corresponding period. Its revenue increased 25.4% to RM421.24mil from RM335.82mil a year ago.

At 3.10pm, its share price was down 17 sen to RM2.05. There were 2.56 million shares done.