KUALA LUMPUR: Fresh off a record-breaking performance in 2023, Hextar Global Bhd
is confident it will sustain its growth momentum moving forward, underpinned by a strong foundation to support expansion in its core business.
In the fourth quarter ended Dec 31, 2023 (4QFY23), the agrochemicals ad speciality chemicals products firm registered a net profit of RM23.39mil, which was a leap higher from RM4.64mil in the same quarter in 2022, representing an earnings per share of 0.6 sen against 0.12 sen.
The group reported quarterly revenue of RM214.28mil, up from RM134.06mil in the comparative quarter.
The strong performance was fueled by an improved performance of the speciality chemicals segment coupled with the contribution from a new revenue stream in the form of the fruits segment, which benefited from the year=end durian season.
Apart from an improved performance across its core segments, the group also disposed of the loss-making consumer products segment in 2QFY23.
"We have had a remarkable performance in the fourth quarter to bookend a transformative year for Hextar. Even more satisfying was our ability to continue to deliver increased margins along with the growth," said group managing director Lee Chooi Keng in a statement.
She added that the group's performance in the second half of 2023 managed to close the performance gap from the first half, which was affected by volatility in commodity prices and the downtrend in raw material cost and selling prices that resulted in margin compression.
For the 2023 financial year, Hextar posted a net profit of RM56.08mil, up from RM49.54mil in FY22, while revenue was RM669.44mil as compared to RM594.91mil.
The board of directors declared a first interim dividend of one sen per share, payable on April 5, 2024, to shareholders on the record of depositors on March 19, 2024, which represents a payout ratio of 56% of current year earnings.
