Hextar posts lower earnings

In a filing with Bursa Malaysia, the group said gross profit margin fell to 19.4% in the quarter under review from 22.9% a year ago, mainly due to the rise in raw material prices and overhead costs.

KUALA LUMPUR: Agrochemical company Hextar Global Bhd’s net profit fell about 33% to RM7.44mil in the second quarter ended June 30, 2021 from RM11.11mil a year ago, dragged by lower revenue and a decline in margin.

In a filing with Bursa Malaysia, the group said gross profit margin fell to 19.4% in the quarter under review from 22.9% a year ago, mainly due to the rise in raw material prices and overhead costs.