Chemical Company of Malaysia Bhd (CCMB) achieved an impressive 25 per cent increase in revenue from RM296.4 million to RM370.7 million for the financial year ended 31 December 2017 for its Chemicals and Polymers businesses, mainly due to improved revenues.\u00a0<\/p>\n
For the current quarter ended 31 December 2017, the Group recorded revenue of RM109.2 million, higher by 48 per cent compared to the corresponding quarter last year of RM73.7 million, after experiencing improved sales for the said quarter under review. Meanwhile, the Group\u2019s profit before tax (PBT) for the financial year ended 31 December 2017 jumped by more than six folds to RM15.0 million from RM2.1 million achieved for the corresponding period of 2016.\u00a0<\/p>\n
Nik Fazila Nik Mohamed Shihabuddin, CCMB\u2019s Group Managing Director, said that the significant rise in PBT was attributed to the higher margins in CCMB\u2019s Chemicals and Polymers businesses.\u00a0<\/p>\n
\u201cThe PBT also included one-off expenses of RM6.8 million for works on dismantling of the Shah Alam fertlizers plant and RM7.0 million for various corporate exercises undertaken during the period under review,\u201d she added.<\/p>\n
The revenue for CCMB\u2019s Chemicals Division rose 32 per cent to RM283.6 million for the financial year 2017 from RM214.7 million in 2016. The Business\u2019 PBT surged 144 per cent to RM44.0 million from RM18.0 million in 2016.\u00a0<\/p>\n
\u201cThe growth in PBT was primarily due to higher sales and margin from higher average selling prices of our chlor alkali products, higher volume sold during the period under review and positive impact on operational efficiency initiatives.<\/p>\n
\u201cThe Group\u2019s Polymers Division recorded a 3.8 per cent increase in revenue to RM84.3 million from RM81.2 million the same period last year. The Business\u2019 PBT grew 8.2 per cent to RM19.1 million as compared to RM17.7 million in the corresponding period in 2016. The rise in PBT was attributed to changes in product mix and price increases on certain products,\u201d she said.<\/p>\n
The Group\u2019s revenue for the fourth quarter ended 31 December 2017 grew 24.0 per cent to RM109.2 million from RM88.1 million in the immediate preceding quarter, mainly contributed by the performance of CCMB\u2019s core businesses, namely the Chemicals and Polymers Divisions.\u00a0<\/p>\n
Meanwhile, CCMB\u2019s PBT in the current quarter swelled by more than seven folds to RM7.1 million from RM0.8 million in the immediate preceding quarter. This was attributed to the increase in average selling prices of chlor alkali products which led to an improvement in margins.<\/p>\n
\u201cThe Group will now focus on solidifying its leading positions in the Chemicals and Polymers Divisions to accelerate its growth, moving forward.\u00a0<\/p>\n
The revenue for the CCMB\u2019s discontinued Pharmaceuticals Division for the financial year ended 31 December 2017 increased 48 per cent to RM468.0 million from RM312.9 million in the same period last year due to the supply of renal and endocrine products and increased demand from the public health sector via tenders.\u00a0<\/p>\n
The Division\u2019 PBT rose 65 per cent to RM51.8 million in the period under review from RM31.5 million in the corresponding period in 2016. The result was attributed to the increase in sales.<\/p>\n
The de-merger of CCM Duopharma Biotech Berhad from CCMB was completed on 28 December 2017. CCMB will now focus on growing its Chemicals and Polymers businesses going forward.<\/p>\n
\u201cThe demerger has given CCMB ample agility to pursue our planned expansion and to create a sustainable growth for the future. We will continue our de-gearing plans via divestment of identified non-core assets to improve our financial performance.\u00a0<\/p>\n
\u201cWe are also committed to leveraging on opportunities within the chemicals and polymers industries to not only strengthen our financial position but to also deliver value for our customers and shareholders, and maintain a competitive edge in the challenging business landscape,\u201d said Nik Fazila.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Chemical Company of Malaysia Bhd (CCMB) achieved an impressive 25 per cent increase in revenue from RM296.4 million to RM370.7 million for the financial year ended 31 December 2017 for its Chemicals and Polymers businesses, mainly due to improved revenues.\u00a0 For the current quarter ended 31 December 2017, the Group recorded revenue of RM109.2 million, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-1499","post","type-post","status-publish","format-standard","hentry","category-corporate"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=1499"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1499\/revisions"}],"predecessor-version":[{"id":6113,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1499\/revisions\/6113"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=1499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=1499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=1499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}