KUALA LUMPUR: Cahya Mata Sarawak Bhd (CMS) registered a net profit of RM33.37 million for the second quarter ended June 30, 2024 (2Q24), up from RM26.35 million a year ago.
This was primarily driven by the cement and oiltools divisions, which benefited from improvements in gross profit margins.
Group revenue, however, fell 4.3 per cent to RM277.99 million from the RM290.52 million previously. Its earnings per share came in higher 3.11 sen compared to 2.45 sen in 2Q23.
For the cumulative six-months period, CMS recorded a net profit of RM71.61 million from RM68.9 million a year ago, while revenue declined to RM555.36 million from RM566.19 million.
According to CMS, the results reflected a strong profit performance despite challenging market conditions, driven by continued improvements in operational efficiencies across the company.
The prolonged rainy season impacted revenue performance in the cement division, which was partially offset by strong performances in the road maintenance and oiltools divisions.
Looking ahead, CMS said it was committed to maintaining its resilience and agility in a dynamic market landscape.
"We will strategically focus on fully realising our growth potential by leveraging our robust balance sheet and diverse portfolio of businesses that span various sectors."
CMS aims to capitalise on emerging opportunities that align with its strategic goals, fostering innovation and sustainability in our operations.