Saturday August 18, 2012
Forex losses slash CCM Q2 net profit
PETALING JAYA: Chemical Co of Malaysia Bhd (CCM) reported a net profit of RM3.06mil for its second quarter ended June 30, 53.6% lower than a net profit of RM6.6mil in the same quarter last year.
In notes accompanying its results to Bursa Malaysia, the producer of chemicals said lower profits were caused mainly by unrealised foreign exchange losses.
Revenue for the period stood at RM403.1mil against RM415.4mil previously.
CCM said the group would continue to focus on enhancing business profitability by improving production efficiency and cost effectiveness across all of its business divisions, as well as strengthening its presence in the region.