KUALA LUMPUR, Nov 26 (Bernama) -- Malayan Cement Bhd reported a higher net profit for the first quarter ended Sept 30, 2024 (1Q FY2025), increasing to RM139.44 million, compared to RM96.10 million in the same period in 2023.
In a filing with Bursa Malaysia today, the largest cement manufacturer in Malaysia said revenue also rose to RM1.17 billion from RM1.14 billion previously.
It said the ready-mixed concrete segment contributed a higher share of revenue mainly due to increased demand for high-grade ready-mixed concrete and bespoke products.
On prospects, the group said domestic demand is likely to be supported by ongoing requirements across civil engineering and key sectors such as residential, infrastructure, logistics facilities, data centres, and factories.
Additionally, Malaysia’s continued need for housing and infrastructure, driven by its young population and rapid urbanisation, would contribute to sustained demand for cement.
"The group will also explore opportunities to increase exports with the Langkawi plant well positioned to benefit from this.
"Whilst wider economic volatility may persist in light of inflationary pressures and geopolitical uncertainties, the group will continue with its pursuit of efficiencies in operations, logistics and distribution," it said.
-- BERNAMA
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