CMSB achieves a 33% y/y rise in pre-tax profit in 1H14

Byrebecca3360

Updated Fri, 29 Aug 2014 09:39:59 GMT

Malaysia’s Cahya Mata Sarawak Berhad (CMSB) has reported positive results for the first six months of 2014:

Pre-tax profit increased by 33% y/y to RM164.84 million in 1H14. In 1H13, the Group reported pre-tax profit of RM123.63 million.

For 2Q14, pre-tax profit reached RM98.65 million, 43% higher than the RM68.81 million achieved in the corresponding quarter in 2013, and 49% higher than in 1Q14 (RM66.19 million).

In 1H14, profit after tax and non-controlling interests grew to RM105.01 million, up 53% on 1H13’s RM68.74 million.

“This has been an important quarter for us in terms of meeting performance against targets, which is a credit to our professional and prudent management and staff. Significant achievements have been recorded namely by the Cement, Construction Materials & Trading, Construction & Road Maintenance and Property Development Divisions, which saw robust rises year-on-year in PBT by 30%, 17%, 16% and 6800%, respectively,” said Dato’ Richard Curtis, Group Managing Director of CMSB. “The overall result for 1H14 should be viewed positively as it indicates that the Group is on track to deliver strong financial results for the full year of 2014."