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Malayan Cement's Full-Year Profit After Tax Rises 169% to RM429 Million
22 August 2024
2nd Interim Dividend of 6.0 Sen per Share Declared, Annual Dividend Totals 10.0 Sen
Malayan Cement's revenue increased 18% to RM4,446.4 million for the 12 months ended 30 June 2024 compared to RM3,757.0 million for the 12 months ended 30 June 2023.
Profit before tax increased by 156% to RM647.5 million for the 12 months under review compared to RM253.1 million last year, whilst profit after tax rose 169% to RM429.0 million this year over RM159.2 million last year.
The Board of Directors of Malayan Cement declared a second interim dividend of 6.0 sen per ordinary share in respect of the financial year ended 30 June 2024, the book closure and payment dates for which are 30 October 2024 and 15 November 2024, respectively. Combined with the first interim dividend of 4.0 sen per ordinary share declared last quarter, this amounts to a total dividend of 10.0 sen per ordinary share in respect of the 2024 financial year.
Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Malayan Cement, said, "Malayan Cement achieved higher revenue this year due mainly to the stabilisation of the selling price for both domestic cement and ready-mixed concrete, in addition to continued improvements in operational efficiencies. Profit before tax for the 2024 financial year rose in tandem with the higher revenue, coupled with the moderation in coal prices".
EBITDA (earnings before interest, tax, depreciation and amortisation) increased 52% to RM1,093.0 million for the 12 months ended 30 June 2024, compared to RM718.8 million last year.
The above is an extract of Malayan Cement Berhad's full year performance results. Read more here.
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YTL Cement is Malaysia’s pioneer and largest building materials group. With a network of cement plants, terminals, ready-mixed concrete batching facilities, drymix operations, and aggregate quarries, YTL Cement is recognised as a partner in nation building. Over its 70-year legacy, the Group has contributed to the construction of residential, commercial, and infrastructural projects throughout Malaysia, including the Petronas Twin Towers, Merdeka 118, SMART Tunnel, and the nation’s iconic airports and bridges.
Extending its presence beyond domestic borders, YTL Cement now has operations in Southeast Asia, meeting the building material needs of neighbouring nations.
Recently, the Group launched its ECO Product Range, providing a diverse selection of low-carbon alternatives to conventional offerings. This eco-friendly range includes ECOCem, a selection of low-carbon cements; ECO Concrete, offering concrete with significantly reduced embodied carbon; ECOSand, a perfect substitute for natural sand; and ECODrymix, an eco-friendly pre-mix range. This initiative is part of its commitment to support the industry’s transition to sustainable construction.
Extending its presence beyond domestic borders, YTL Cement now has operations in Southeast Asia, meeting the building material needs of neighbouring nations.
Recently, the Group launched its ECO Product Range, providing a diverse selection of low-carbon alternatives to conventional offerings. This eco-friendly range includes ECOCem, a selection of low-carbon cements; ECO Concrete, offering concrete with significantly reduced embodied carbon; ECOSand, a perfect substitute for natural sand; and ECODrymix, an eco-friendly pre-mix range. This initiative is part of its commitment to support the industry’s transition to sustainable construction.
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