KUALA LUMPUR: Hextar Global Bhd's net profit for the fourth quarter (Q4) increased 24.4 per cent year-on-year (YoY) to RM14.26 million from RM11.46 million previously.
In an exchange filing today, the agrochemical company said this was attributed to the consolidation of the financial results of its newly acquired specialty chemicals segment as well as higher contribution from the agriculture segment.
Its Q4 revenue jumped 35.6 per cent YoY to RM138.05 million from RM101.80 million on the back of higher contributions from the newly acquired specialty chemicals segment.
For the cumulative year ended December 31, 2021, Hextar Global's net profit decreased 11.1 per cent YoY to RM39.60 million from RM44.54 million, while revenue increased 10.9 per cent to RM464.12 million from RM418.64 million.
This was mainly due to expenses incurred by the company for various corporate exercises undertaken during the current financial year as well as the slower performance of the consumer products segment.
The board has also declared a second interim dividend of 1.2 sen per share, payable on March 25, 2022.
Executive director Datuk Eddie Ong said Hextar Global ended 2021 with a strong fourth quarter and closed 2021 in a positive way.
"Market activities picked up gradually during the year and order bookings started to increase.
"Hextar has achieved good revenue growth against the prior two comparative quarters reflecting the strength of the company's flexible model and despite a challenging external trading environment," he said in a separate statement today.
He said the company continues to review the performance of the consumer products segment including changing its distribution channels and expanding its product offerings to increase our market reach.
"We strongly believe diversity makes us more competitive, relevant and innovative."
Ong said the solid earnings contribution from the specialty chemicals segment has only just begun as a majority of the acquisitions were completed towards the last quarter of 2021.
"However, we now have a very strong platform providing us with consistent growth which in turn will enable us to continue to provide our stakeholders with growing returns.
"We will also continue to be attentive to the welfare of our clients, employees and our business partners, and to support the underprivileged communities as we've always done."
