Cahya Mata sees rise in revenue but lower profit

Cahya Mata sees rise in revenue but lower profit

Three divisions record lower profits, one sees higher profits and one reports higher losses.

Cahya Mata saw its revenue rise 24% to RM868.09 million in the first nine months of 2023 compared with the previous corresponding period.
PETALING JAYA:
Cahya Mata Sarawak Bhd recorded a 24% increase in revenue to RM868.09 million for the nine months to Sept 30, 2023, up from RM702.17 million in the previous corresponding period.

However, profit before tax (PBT) dropped from RM184.09 million in the first nine months of 2022 to RM128.07 million in the same period in 2023.

Of its five divisions, one reported an increase in PBT, three saw reduced profits and the last division recorded a loss, according to a statement issued to the media today.

Higher sales combined with lower input costs helped the cement division record an 8% rise in PBT, from RM83.52 million to RM90.5 million.

The oiltools division also recorded an increase in PBT but this was cancelled out by a RM62.47 million negative goodwill upon its acquisition last year. For the period under review, the division’s share of PBT amounted to RM25.8 million.

The property division reported a lower PBT of RM6.66 million for the first nine months of 2023, down from RM26.72 million in the same period in 2022, thanks to lower sales of properties and no sale of land.

The phosphate division came home with higher losses — RM99.1 million for the January to September period in 2023 from a loss of RM33.56 million in the same period in 2022.

The road maintenance division saw profit drop from RM10.87 million in the first three quarters of 2022 to RM5.11 million in the same period in 2023.

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