KUALA LUMPUR (July 29): Ancom Bhd’s net profit rose 21.43% to RM10.33 million in the fourth quarter ended May 31, 2019 (4QFY19), from RM8.51 million a year ago, thanks mainly to gains from the disposal of its subsidiaries under the media division. 

Earnings per share rose to 4.91 sen from 3.95 sen, Ancom said in a bourse filing.  

Quarterly revenue fell 17.09% to RM480.92 million, compared with RM580.08 million a year ago.  

For the full-year, Ancom’s net profit fell 13.05% to RM15.29 million, from RM17.58 million in the previous year, while revenue inched up 1.68% to RM1.99 billion, from RM1.95 billion. 

The diversified group said performance of its key business segments — agricultural chemicals and polymer divisions — was expected to remain satisfactory. 

“However, the challenging business environment is expected to persist for the industrial chemicals and polymer divisions. 

“The market volatility and softening global demand will continue to put downward pressure on product margins for the industrial chemicals and polymer divisions,” it added. 

As for the media division, the group said the immediate outlook is expected to be challenging, due to the weak domestic market sentiments. 

Ancom’s share price was last traded at 48 sen, giving the group a market capitalisation of RM109.26 million.