Luxchem posts 11.6% rise in Q4 earnings

17 Feb 2020 / 15:17 H.

PETALING JAYA: Industrial chemical distributor Luxchem Corp Bhd posted an 11.6% increase in its net profit to RM9.6 million for its fourth quarter ended Dec 31, from RM8.6 million in the previous corresponding quarter, mainly due to higher profit in its trading segment.

Revenue, however, decreased 9.3% to RM187.2 million, from RM206.2 million.

Meanwhile, for the full-year period, Luxchem’s net profit declined marginally to RM37.65 million, from RM37.79 million. Revenue also declined 6% to RM765.48 million, from RM814.1 million.

It declared an interim dividend of 1.25 sen per share for FY19 ended Dec 31.

Looking ahead, the group said its performance could be affected by fluctuations in US dollar/ringgit exchange rates, raw material price fluctuations, raw material demand and supply situations and competition.

“The group will continue to improve its own productivity and efficiency to face these external uncontrollable factors,” it said in a Bursa filing.

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