Supermax 1Q net profit drops 19.12% to RM638.52mil, declares div of 5c/share

KUALA LUMPUR: Supermax Corp Bhd posted a net profit of RM638.52mil in the first quarter ended Sept 30, 2021, a 19.12% drop from RM789.52mil in the previous corresponding quarter as profit margins slipped from a year ago.

"The margin regression is due to the fall in average selling prices (ASPs) as competition has intensified significantly following a period of substantial capacity expansion across the industry as both existing and new players ramped up their production capacities," it said in a bourse filing.