Wednesday 31 May 2023
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KUALA LUMPUR (May 30): Hume Cement Industries Bhd registered a net profit of RM1.92 million for the third quarter ended March 31, 2022 (3QFY22) against a net loss of RM11.81 million in the same quarter last year.

Quarterly revenue increased 19.3% year-on-year to RM191.76 million from RM160.74 million a year earlier, according to Bursa Malaysia filings on Monday (May 30).

The company said the net profit and higher revenue for the quarter under review were attributed to lower rebate in the selling price and higher cement sales volume.

For the cumulative nine months ended March 31, 2022 (9MFY22), Hume Cement narrowed its net loss to RM1.82 million from RM9.94 million a year earlier as a result of positive impact from lower rebate in the selling price and and higher input costs in particular from coal and electricity. 9MFY22 revenue rose 4.63% to RM513.26 million from RM490.57 million.

On prospects, Hume Cement said it remains cautious as the impact of the current global geopolitical situation, the volatility in commodity prices and disruptions in global supply chains on the recovery remains uncertain.

"The group continues to be vigilant in monitoring and responding to these changing business conditions," it added.

Hume Cement shares closed down two sen or 1.82% to RM1.08, giving it a market capitalisation of RM541.69 million.

Edited ByJoyce Goh
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