KUALA LUMPUR (April 21): Luxchem Corp Bhd's net profit for the first quarter ended March 31, 2021 (1QFY21) surged 129% to RM20.56 million, from RM9.99 million a year earlier, due mainly to its trading and manufacturing segments.
In a bourse filing today, Luxchem said its revenue for the quarter rose 31% to RM227.87 million, from RM174.48 million previously, due to higher sales for the trading segment.
Earnings per share (EPS) rose to 2.19 sen versus 1.11 sen earlier.
The group declared a single-tier interim dividend of 0.9 sen per share to be paid on June 3.
On its prospects, Luxchem said its performance can be affected by fluctuations in US dollar/ringgit exchange rates, raw material prices, raw material demand and supply situations, competition and the current Covid-19 pandemic situation.
“The group will continue to improve its own productivity and efficiency to face these external uncontrollable factors,” it said.
At the midday break today, Luxchem was 1.26% or one sen higher at 80.5 sen, valuing it at RM802.57 million.