Luxchem Q2 earnings up 12.6%

PETALING JAYA: Industrial chemical distributor Luxchem Corp Bhd saw its net profit grew 12.6% to RM9.75 million in the second quarter (Q2) ended June 30, 2018, from RM8.66 million in the previous corresponding quarter, mainly attributable to the higher gross profit.
Revenue for the quarter decreased slightly by 2.1% to RM198.91 million compared with RM203.11 million in the same period a year ago.
For the six-month period, its earnings declined 13% to RM19.38 million against RM22.27 million a year earlier, while revenue was down 6.1% to RM395.56 million from RM421.25 million previously.
On its prospects, Luxchem said its performance can be affected by fluctuations in US dollar against ringgit exchange rates, raw material price fluctuations, raw material demand and supply situations and competition.
Nevertheless, the group said it will continue to improve its own productivity and efficiency to face these external uncontrollable factors.