KUALA LUMPUR: Hume Cement Industries Bhd ’s net profit more than doubled to RM61.06mil in the third quarter (3Q) ended March 31, 2024, from RM27.01mil a year earlier.
The cement and concrete maker’s revenue also increased to RM310.40mil from RM289mil previously.
“The increase in revenue and profit was mainly due to a lower manufacturing cost, coupled with higher cement average selling price (ASP) and sales volume,” the group said in a filing with Bursa Malaysia yesterday.
For the first nine months of its financial year, Hume Cement reported a higher net profit of RM168.45mil compared with RM19.44mil in the previous year’s corresponding period, while revenue rose to RM939.31mil from RM751.05mil previously.
It attributed the improved revenue and profit mainly to higher cement ASP and sales volume, coupled with lower input costs but partially offset by higher energy costs.
Hume Cement also declared a second interim dividend of six sen per share for the financial year ending June 30, 2024, which will be paid on June 27, 2024.
This brings the total dividend to eight sen per share (no dividend was declared for the first nine months of the preceding year). — Bernama