Hume Cement profit jumps to RM61.06mil in 3Q


KUALA LUMPUR: Hume Cement Industries Bhd’s net profit more than doubled to RM61.06 million in the third quarter ended March 31, 2024, from RM27.01 million a year earlier.

The cement and concrete maker’s revenue also increased to RM310.40 million from RM289.00 million previously.

"The increase in revenue and profit was mainly due to a lower manufacturing cost, coupled with higher cement average selling price and sales volume,” the group said in a filing with Bursa Malaysia today.

For the first nine months of its financial year, Hume Cement reported a higher net profit of RM168.45 million compared with RM19.44 million in the previous year’s corresponding period, while revenue rose to RM939.31 million from RM751.05 million previously.

It attributed the improved revenue and profit mainly to higher cement average selling price and sales volume, coupled with lower input costs but partially offset by higher energy costs.

On prospects, Hume Cement said the Malaysian construction sector is expected to sustain its momentum and the group would perform in tandem in the current financial year.

"The group remains steadfast in its commitment to operational excellence, with a particular emphasis on optimising production efficiency and establishing an efficient logistics network.

"This strategic approach will enable the group to provide value and meet the evolving needs of customers,” it added.

The group also declared a second interim dividend of six sen per share for the financial year ending June 30, 2024, which will be paid on June 27, 2024. This brings the total dividend to eight sen per share (no dividend was declared for the first nine months of the preceding year). - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Hume Cement , Construction , Dividend

   

Next In Business News

Waz Lian founder Tan Sri Ta Kin Yan passes away at 72
Oil posts weekly gain on solid 2024 demand outlook
Prabowo aims to raise Indonesia debt-to-GDP ratio toward 50%
Laundry Care ventures into linen rental business
Oriental Kopi files for Bursa IPO
BHIC wins RM1bil govt job
MI Technovation prepares for chip recovery
Local furniture export outlook hinges on US housing market
Luxury labels slash prices to attract wary shoppers
Delay in rate cuts but bonds rally

Others Also Read