CCM lifts Q2 pre-tax profit of RM20.3m

Chemical Co of Malaysia Bhd’s (CCM) pre-tax profit for the second quarter ended June 30, 2011 increased to RM20.346 million from RM13.703 million in the corresponding quarter last year.

Revenue, however, fell to RM415.423 million from RM422.978 million previously, it said in a statement today.

Moving into the second half of 2011, CCM said it was cautiously optimistic to navigate uncertainties in the global economy especially the recent downgrade of the US’ credit rating, the spread of the European debt crisis as well as the expectations of a downtrend in prices of crude palm oil, caustic soda and other
commodities.

CCM said its key markets, namely Malaysia, Indonesia and Singapore, were still expected to maintain a positive gross domestic product growth albeit a slower one.


"The group is focused on sustaining and enhancing its business profitability by improving its production efficiency, better cost control and better management of its product sales mix across all of its business divisions to maintain margins," it said.

Barring any unforeseen circumstances, CCM said it was confident in achieving satisfactory performance for the financial year ending Dec 31, 2011.

CCM, Malaysia's largest generic pharmaceutical and compound fertilisers manufacturer, is listed on the main market of Bursa Malaysia and is a key player in the fertilisers, chemicals and pharmaceuticals industries. -- Bernama