KUALA LUMPUR: Luxchem Corp Bhd
remains cognisant of several key challenges to its outlook but will continue to improve its productivity and efficiency to face these uncontrollable external factors.
Among these challenges, it cited the dollar and ringgit exchange rate, raw material price fluctuations, raw material demand and supply situations, stiff competition and ongoing global geopolitical conflict.
In a filing with Bursa Malaysia, the industrial chemicals firm announced an improved set of results for the second quarter ended June 30, 2024 (2Q24), with a net profit of RM12.2mil or earnings per share (EPS) was 1.14 sen, up from RM9.42mil or EPS of 0.88 sen in the same quarter last year.
Revenue for the quarter stood at RM210.2mil as compared to RM157.56mil in 2Q23. For the cumulative six months period, the group’s net profit was RM23.76mil or EPS of 2.22 sen against RM16.92mil or EPS of 1.58 sen in the first six months of financial year 2023 while revenue rose 27% on-year to RM393.35mil.
It attributed the improved performance over the period to higher sales in both its trading and manufacturing segments.Luxchem declared an interim dividend of 0.8 sen per share, going ex on Aug 8, and payable on Aug 30 this year.
