Ancom posts five-fold jump in earnings jump


In a statement, the agricultural and industrial chemicals manufacturer and supplier said the robust earnings growth was mainly attributable to strong sales from its agricultural chemicals division, coupled with higher profit margin attained from the industrial chemicals division.

PETALING JAYA: Ancom Bhd saw its net profit jump five-fold to RM9.3mil for the first half of its financial year ending May 31,2021 (FY21), from RM1.9mil in the corresponding period last year.

In a statement, the agricultural and industrial chemicals manufacturer and supplier said the robust earnings growth was mainly attributable to strong sales from its agricultural chemicals division, coupled with higher profit margin attained from the industrial chemicals division.

In addition, it said, higher cost efficiency achieved also enhanced the group’s bottom line.

Ancom’s revenue, however, fell 12.3% to RM703.4mil during the period in review from RM802.3mil in the first half of FY20.

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