KUALA LUMPUR (Aug 28): Cahya Mata Sarawak Bhd (CMS) shares fell 1.68% this morning after its net profit more than halved to RM41.33 million or 3.85 sen per share in its second quarter ended June 30, 2019, from RM91.63 million or 8.53 sen per share a year ago.

At 9.15am, CMS fell 4 sen to RM2.34, valuing the group at RM2.51 billion.

This was despite higher revenue of RM399.17 million versus RM395.28 million in the year-ago second quarter.

Cumulative six-month net profit came in at RM82.1 million down 37% from RM130.6 million in the previous corresponding period, while revenue rose 8.9% on year to RM817.35 million from RM750.27 million.

CMS said in its exchange filing the lower earnings during the period was due to higher imported clinker cost and coal cost in its cement division, besides the arrears received for works in its construction and road maintenance division.