KUALA LUMPUR: Cahya Mata Sarawak Bhd posted a lower net profit for the second quarter ended June 30, 2023 of RM26.34 million from RM39.57 million a year ago.
The company registered a higher revenue by 38.51 per cent tp RM290.52 million from RM209.73 million from the previous year on the back of contribution from oiltools division of RM71.62 million.
Cahya Mata posted a lower earnings per share of RM2.45 from RM6.70 previously.
Cumulatively, the company's net profit decreased to RM68.90 million from RM111.58 million a year ago, while revenue rose to RM566.19 million from RM423.77 million, an increase of 34 per cent.
In Bursa Malaysia filing, Cahya Mata said the increase in revenue was due to higher contributions from the cement and oiltools divisions.
On its prospects, Cahya Mata said the first half performance of the company was affected by delayed projects, plant commissioning and lower demand for construction products.
"We continue to hold a long-term view that the Sarawak economy will remain robust.
"Activities for infrastructure and rural development for the remainder of FY2023 is expected to pick-up. Our group of companies would be in position to benefit from these developments," it said.
