KUALA LUMPUR (Feb 20): Malayan Cement Bhd’s (KL:MCEMENT) net profit jumped 52.4% for the second financial quarter driven by higher other operating income and lower costs. 

Net profit for the second financial quarter ended Dec 31, 2024 (2QFY2025) was RM184.68 million from RM121.18 million a year ago. Earnings per share came in higher at 13.81 sen from 9.25 sen previously. 

Quarterly revenue was almost flat at RM1.15 billion from RM1.16 billion on lower sales of clinker, cement and other building materials segments. 

In its announcement to Bursa Malaysia, Malayan Cement said its other operating income soared 175% year-on-year (y-o-y) to RM57.76 million while finance costs dropped 24.02% y-o-y to RM38 million.

The company declared an interim dividend of five sen per share, to be paid on March 27. 

For the six months of FY2025, Malayan Cement’s net profit jumped 49.2% to RM324.12 million from RM217.28 million while revenue inched up 0.73% to RM2.32 billion from RM2.31 billion. 

Going forward, Malayan Cement expects steady demand for cement, supported by infrastructure and housing projects. The upcoming Johor-Singapore Special Economic Zone is seen as a key growth driver. Nonetheless, the company remains cautious on its outlook amid inflationary pressures and geopolitical uncertainties.

Shares of Malayan Cement closed unchanged at RM4.65 on Thursday, giving it a market capitalisation of RM6.24 billion.