CMSB 2852 CAHYA MATA SARAWAK BERHAD posts sharply higher 3Q net profit
KUALA LUMPUR (Nov 29): Cahya Mata Sarawak Bhd's (CMS) net profit for the third quarter ended Sept 30, 2022 (3QFY2022) almost trebled to RM154.36 million, from RM53.88 million a year earlier, helped by the recognition of negative goodwill of RM62.47 million arising from the acquisition of Oiltools group.
The higher earnings were also due the reversal of impairment of RM37.69 million on investment and loan to an associate, the group said in a Bursa Malaysia filing.
Earnings per share for 3QFY2022 swelled to 14.37 sen from 5.02 sen previously.
Quarterly revenue climbed 49.78% to RM278.39 million from RM185.87 million a year ago as the group's performance improved after being previously impacted by the restricted movements due to Covid-19.
For the cumulative nine months ended Sept 30, 2022 (9MFY2022), CMS' net profit rose 48.52% to RM265.95 million from RM179.06 million in the same period last year, as 9MFY2022 revenue grew 22.56% to RM702.17 million from RM572.93 million.
CMS said that while the second half of FY2022 has been challenging for the group, there has been a marginal reduction in material costs which should augur well for the next financial year, with the infrastructure and rural development projects in Sarawak remaining intact.
The group said it continues to hold a longer-term view that once logistical bottlenecks and raw material costs stabilise, activities will further pick up and will benefit the group's businesses.
With the completion of the acquisition of the Oiltools business, the group foresees a positive contribution from this division in the coming quarters.
Meanwhile, the phosphate plant project under Malaysian Phosphate Additives (Sarawak) Sdn Bhd is scheduled to complete its commissioning activities by the end of 2022, with CMS remains focused on achieving this goal and is closely monitoring the key items and milestones for the success of this project.
CMS' share price ended 7.69% or 7.5 sen higher at RM1.05 on Tuesday (Nov 29), bringing the group a market capitalisation of RM1.12 billion.
http://www.theedgemarkets.com/article/cahya-mata-sarawak-posts-sharply-higher-3q-net-profit
Singapore Investment
-
-
-
-
-
-
-
SRS Account Interest Rate7 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
I have Achieved Lean FIRE!!3 days ago
-
-
-
-
-
-
-
-
The Art of Being Patient4 days ago
-
-
-
-
-
-
-
-
-
-
Portfolio Summary for June 20251 week ago
-
-
-
Portfolio (June 30, 2025)1 week ago
-
Portfolio (June 30, 2025)1 week ago
-
-
-
-
-
Month of June 20251 week ago
-
June 2025 Updates1 week ago
-
-
-
Batisht crazy!1 week ago
-
-
Will SORA crash to 1 per cent?1 week ago
-
-
Hello world!1 week ago
-
Cut back some exposure1 week ago
-
-
-
Buying an overseas home for retirement2 weeks ago
-
-
8 tips for house moving2 weeks ago
-
-
-
-
-
-
-
-
-
-
-
-
May 2025 Portfolio5 weeks ago
-
-
-
Thakral - Gem life deal finally coming?1 month ago
-
-
-
-
Clarity1 month ago
-
The Trump Tariffs1 month ago
-
Selling HRnet and Fiverr1 month ago
-
-
-
-
Ignore the noise and be calm2 months ago
-
-
-
-
FAQ on Quantitative Investing Part 22 months ago
-
-
-
-
Crossing the 300k Mark [in a volatile period]3 months ago
-
-
-
-
-
-
-
-
ETF vs Mutual Fund: Which is Better?5 months ago
-
-
-
-
-
Arigato Everyone! A Decade of Blogging!6 months ago
-
Top 10 Highlights of 20246 months ago
-
-
-
Union Square Residences8 months ago
-
-
-
STI ETF9 months ago
-
-
-
Unibet Casino Bonus Codes 202410 months ago
-
-
-
-
The Stigma against Early Retirement (FIRE)11 months ago
-
Monthly IBKR Update – June 20241 year ago
-
-
-
-
-
-
-
-
-
Feb 2024 Expenditure1 year ago
-
-
-
-
-
-
-
Monthly Summary of November 20231 year ago
-
Migration of website1 year ago
-
-
-
-
-
-
Hello SP Group, I'm Back!2 years ago
-
-
-
A New Light2 years ago
-
-
-
-
-
2022 Thoughts, Hello 2023!2 years ago
-
Series of Defaults for Maple Finance2 years ago
-
Takeaways from “Sea Change”2 years ago
-
Greed is Coming Back2 years ago
-
-
-
-
-
-
-
-
What is Overemployment3 years ago
-
Terra Hill Condo (former Flynn Park)3 years ago
-
Alibaba VS Tencent: The Battle Royale3 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-