CMSB records RM54.81 mln pre-tax profit in 1q 2013

CMSB records RM54.81 mln pre-tax profit in 1q 2013
Business & Markets 2013
Written by Bernama
Thursday, 23 May 2013 16:48
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KUCHING (May 23): Sarawak's leading infrastructure facilitator, CAHYA
MATA SARAWAK BHD [] (CMSB) chalked up a profit before tax (PBT)
of RM54.81 million in the first quarter of 2013, an increase of 10 per
cent from the same period of last year, group managing director, Datuk
Richard Curtis said.
He said revenue rose 35 per cent to RM310.36 million from RM230.34
million, with all divisions reporting higher revenue compared to the first
quarter of last year.
Profit after tax and non-controlling interests declined marginally by eight
per cent to RM28.73 million as the higher PBT was contributed mostly
by jointly owned subsidiaries.
Earnings per share stood at 89 sen against the 95 sen from the
corresponding period of last year.
"This quarter has been another successful one for us in terms of
performance against targets.
"Significant achievements have been recorded by the CONSTRUCTION
[] materials and trading, construction and roads maintenance and the
Samalaju Development divisions, which saw robust rises quarteron-
quarter in PBT by 227 per cent, 37 per cent and 48 per cent
respectively," he said in a statement here today.
While cement sales volumes rose compared to last year's first quarter, he said the cement division registered a quarteron-
quarter decline in PBT of 25 per cent to RM21.09 million from RM28.08 million.
He said it was attributable to higher clinker costs due to the upgraded clinker plant being not yet fully operational, but the
cement division's profitability was set for recovery in line with the company's projections, now that it was back in production.
Outside of the property development division which recorded a small loss, the construction materials and trading, construction
and road maintenance and Samalaju Development divisions, all reported higher revenue and PBT over the
same period last year.
The group, however, saw a lower share of profit from its listed associates due to the loss recorded by K&N Kenanga
Holdings Bhd for this year's first quarter, mitigated by higher profits from KKB ENGINEERING BHD [].
OM Materials (Sarawak) Sdn Bhd which has yet to commence operations, recorded a marginal profit from interest income.
Curtis said the group remained confident of its sustainable growth in the medium and long term, as Sarawak is expected to
remain relatively insulated from global uncertainties, thanks to the many projects taking off in the Sarawak Corridor of
Renewable Energy (SCORE). -- BERNAMA