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.

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