Kuala Lumpur – Chemical Company of Malaysia Berhad (CCM Berhad) recorded a 66 per cent increase in revenue to RM592.9 million for its second quarter ended June 30, 2008 from RM357.7 million in the corresponding quarter last year. Profit before tax (PBT) grew 72 per cent to RM41.2 million from RM23.9 million in the same period in 2007.

The Group’s second quarter revenue also posted a marked increase of 48 per cent from RM399.5 million in the first quarter while PBT increased 37 per cent from RM30.1 million.

For the six months ended June 30, 2008 revenue jumped 54 per cent to RM992.4 million from RM642.7 million recorded in 2007. PBT rose 63 per cent to RM71.4 million compared to RM43.8 million last year.

Earnings for the Group’s Fertilizers Division increased 96 per cent to RM636.6 million for the six months ended June 30, 2008 from RM324.8 million in the corresponding period last year while PBT, after taking into account a RM15.4 million extraordinary charge, grew 250 per cent to RM44.6 million from RM12.7 million last year. This performance was achieved against the background of rising market demand and prices for fertilizers where both better margins and higher volumes were achieved.

CCM’s Chemicals Division registered a 10 per cent higher turnover of RM269.7 million from RM245.0 million in the same period last year. With higher prices for caustic soda, the Division was able to record an increase of 19 per cent in PBT at RM10.3 million compared to RM8.7 million last year.

Meanwhile, the Group’s Pharmaceuticals Division achieved a 16 per cent growth in revenue to RM114.3 million from RM98.8 million in 2007. However, due to the higher prices of raw materials, its PBT was reduced by 5 per cent to RM25.0 million from RM26.3 million last year.

The Group is on track to meet its 2008 KPIs of RM1.7 billion revenue and PBT of RM115 million.

The Board of Directors has recommended an interim ordinary dividend of 8.0 sen per ordinary share less tax at 26 per cent (2007: 6.0 sen per ordinary share less tax at 27 per cent) with respect to the current financial year ending December 31, 2008.

CCM is listed on the main board of Bursa Malaysia with a market capitalisation of RM1 billion and is a key player in the fertilizers, chemicals and pharmaceuticals industries.

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Issued with the compliments of Chemical Company of Malaysia Berhad
Through Eric Pringle Associates Public Relations Sdn Bhd.
For further information, please contact Ida Fazila Ismail
at 03-2161 7144/49/54 or e-mail at ifazila@epapr.com.my