Cahya Mata Sarawak’s first half profit down by 37.1%

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Malaysia: Cahya Mata Sarawak (CMS)’s cement division has reported a net profit of US$19.5m in the six months to 30 June 2019, down by 37.1% from US$31.0m in the same period of 2018. The company’s total first half revenue rose by 8.9% to US$194m from US$178m in 2018.

In its financial statement, CMS blamed the cement profit slump on rising clinker import prices and the cost of fuel for its coal-fired cement plants. CEO Datuk Isaac Lugun has expressed hope for the group’s longer-term prospects due to its competitive power pricing and strong global presence.

Last modified on 04 September 2019

URL: https://globalcement.com/news/item/9784-cahya-mata-sarawak-s-first-half-profit-down-by-37-1

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