Samchem registers higher Q3 profit despite Covid-19 challenges 


KUALA LUMPUR: Samchem Holdings Bhd said improved margins and favourable exchange rates boosted its profits in the third quarter despite lower sales due to strict pandemic measures in Malaysia and Vietnam.

Net profit in the three-month ended Sept 30 climbed 32% to RM12.6mil, while revenue decreased 5% to RM272.8mil.

Gross profit improved 2% to RM34.2mil.

"Our performance is driven by the demand and supply for chemicals in the market, regional consumption and economic conditions and can be affected by exchange rate fluctuations, competition, disruptions to demand and supply as well as Covid-19 pandemic challenges," the company said in a filing today.

"The management will continue to focus on operational efficiencies and expansion of new products and service offerings to improve the Group’s performance," it added.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Samchem , chemicals

   

Next In Business News

Study suggests Pfizer COVID-19 vaccine may only partially protect against Omicron
Oil CEOs raise alarm over market's readiness to drop fossil fuels
Oil rises 3%, extending rally as Omicron fears retreat
Omicron sets back airline industry's recovery hopes
GLOBAL MARKETS-Bulls take charge as Omicron concerns ease
Decision on 5G model next month
Citi picks Standard Charterd bank in Malaysia as front runner for Asia retail sales
Analysts upbeat about prospects for 2022
RHB targets digital transactions to grow above 95% in 2023
CIMB Group completes shareholding sale in CGS-CIMB Securities

Others Also Read


Vouchers