PETALING JAYA: Samchem Holdings Bhd
saw its earnings soar 79.5% for the third quarter ended Sept 30, thanks to higher operational efficiency, enhanced inventory management and economies of scale.
In a filing with Bursa Malaysia, the integrated chemicals and lubricants distributor said it posted a net profit of RM9.5mil for the period in review, compared with RM5.3mil in the corresponding quarter last year.
Samchem said despite lower chemical prices in 2020, the company managed to register 9% revenue growth in the third quarter to RM288.6mil compared with RM264.6mil in the previous corresponding period, mainly due to higher sales volume amid the subdued economy and widely implemented lockdowns.
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