KUALA LUMPUR (Oct 26): Ancom Bhd’s net profit for the first financial quarter ended Aug 31, 2017 (1QFY17) surged 60.2% to RM1.1 million from RM692,000, driven by its agriculture and industrial chemical businesses.

Earnings per share rose to 0.52 sen from 0.32 sen a year ago.

Quarterly revenue also increased 17.8% to RM419.53 million in 1QFY17 from RM356.15 million in 1QFY16, primarily driven by its agriculture and industrial chemical businesses.

In a filing with Bursa Malaysia today, Ancom said its media business recorded improved earnings of RM100,000 compared with a segmental loss of RM2.6 million a year ago, in tandem with higher revenue generated during the current quarter under review.

On its prospects, Ancom said that its key business segments, its agricultural, industrial chemical and polymer division have posted a better performance during the financial year. However, the group said that sustainability of global demand remains uncertain and pace of recovery has been slower than expected.

“Despite the challenging outlook in the media industry, the media segment has shown to be resilient during the current financial year. Management expects that the media division should continue to perform satisfactory barring any unforeseen circumstances,” it said.

Ancom shares closed down 0.5 sen or 0.73% to 68 sen today, bringing it a market capitalisation of RM146.32 million.