Lafarge Posts 45% Jump in Net Profit

15.11.2008
 

15 November 2008

 

PETALING JAYA: Lafarge Malayan Cement Bhd posted a 45.3% jump in net profit to RM124.5mil for the third quarter ended Sept 30 against RM85.7mil a year earlier.

 

The company said the improved earnings were mainly due to higher revenue, lower maintenance costs, improved plant performance and better results for the Singapore cement operations arising from the active construction sector.

 

It also posted a 20% growth in revenue to RM699mil from RM581mil in the previous corresponding quarter, due mainly to better cement selling prices in the domestic and export markets, and higher cement exports.

 

"Selling prices were revised to compensate for the significant increases in production costs brought about by steep increases in the prices of coal, diesel and electricity," the company said in its filing with the stock exchange.

 

On prospects for the remainder of the year, it said demand for cement in the second half year was likely to be flat with downside risk, but added: "The lower domestic cement sales in the second half year should be mitigated by higher export sales."