Luxchem 3Q net profit up 39% to RM5.97mil

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KUALA LUMPUR (Nov 3): Luxchem Corp Bhd saw its net profit for the third quarter ended September 30 (3QFY14) expand 39.36% on-year to RM5.97 million from RM4.28 million, underpinned by better performance from its trading segment.

Quarterly revenue grew 30.38% on-year to RM159.44 million from RM122.28 million for the same reason.

Earnings per share (EPS) jumped 39% to 4.59 sen from 3.3 sen previously.

In a filing with Bursa Malaysia today, the industrial chemicals suppliers said its net profit in the nine months through September (9MFY14) climbed 13.8% to RM15.67 million from RM13.77 million recorded in 9MFY13, translating to an EPS of 12.06 sen.

Revenue for 9MFY14 also went up, climbing 15.23% to RM456.4 million from RM396.08 million.

Looking forward, the group remains positive on its outlook despite the fluctuations in exchange rates and raw material prices.

Luxchem closed the day 6 sen higher at RM1.79 with 209,000 units traded, giving it a market capitalisation of RM232.7 million.