KUALA LUMPUR: Texchem Resources Bhd returned to the black in the third quarter ended Sep 30, 2024 (Q3 2024) with a net profit of RM1.1 million versus a net loss of RM750,000 in Q3 2023.
Its revenue rose 15.4 per cent to RM280.79 million in the quarter under review compared to RM243.29 million a year ago.
The rise was largely driven by continued improvements from the industrial and polymer engineering divisions.
For the current quarter under review, the industrial division posted a revenue of RM124.5 million, an increase of 21.7 per cent year-on-year from RM102.3 million in the prior year.
The polymer engineering division posted a revenue and pre-tax profit of RM64.0 million and RM4.5 million respectively.
For the cumulative nine-month period ended Sep 30, 2024, the company logged a net profit of RM749,000 from a loss of RM7.25 million in the same period last year.
Revenue rose to RM851.19 million from RM752.24 million.
"We are delighted to have kept up the earnings recovery momentum as our strategic initiatives continue to chart good progress," said executive chairman Tan Seri Fumihiko Konishi.
"For our industrial division, we continued to enhance our product portfolio and improved profit margins."
He added that its polymer engineering division continues to benefit from increased demand in those strategic business domains and key target strategic projects are gaining momentum.
Moving forward, he said the board is confident that the group will remain resilient and sustain its performance in the coming quarter.