KUALA LUMPUR: Buoyed by encouraging third-quarter results, Samchem Holdings Bhd
is anticipating further improvements to its earnings on the back of its construction and infrastructure projects, as well as higher activities across sectors.
"During the third quarter, we achieved satisfactory results, marked by increased sales volume across all our key geographies despite prevailing subdued business sentiments.
"Encouragingly, we witnessed an improving economic landscape and stabilising business environment in recent months," said executive chairman Ng Thin Poh in a statement.
He added that the shift provided some respite, with market inventory levels normalising, subsequently easing price competition.
In the third quarter ended Sept 30, 2023, Samchem recorded a net profit of RM8.49mil, which was up from RM6.5mil a year earlier.
The group's earnings per share rose to 1.56 sen from 1.19 sen in the comparative quarter.
With these results, the group declared a third interim dividend of 0.6 sen per share.
For the quarter, the group reported revenue of RM322.53mil, as compared to RM317.32mil in 3QFY22.
Over the nine months period, Samchem recorded a net profit of RM20.42mil, down from RM44.29mil in the year-ago period, while revenue was RM854.16mil, down from RM1.05bil.
