Kuala Lumpur – Chemical Company of Malaysia Berhad (CCM) reported a 78.0 per cent increase in revenue to RM642.2 million for its third quarter ended September 30, 2008 from RM360.9 million in the corresponding quarter in 2007.

CCM’s profit before tax also increased 80.0 per cent to RM50.7 million in the same period from RM28.2 million last year.

For the nine months ended September 30, 2008, CCM achieved a 63 per cent rise in revenue to RM1.6 billion from RM1.0 billion in the previous year. Meanwhile, the Group’s profit before tax increased to RM122.0 million, a 69 per cent growth from RM72.0 million in the corresponding period in 2007.

Third quarter revenue was also eight per cent higher than the RM592.9 million recorded in the second quarter while profit before tax jumped 23 per cent from the RM41.2 million reported in the previous quarter.

CCM’s Fertillizers Division revenue soared 105 per cent to RM1.1 billion for the first nine months ended September 30, 2008, from RM518.8 million while its profit before tax increased 266 per cent to RM81.8 million from RM22.4 million in the corresponding period last year. The strong performance of the Fertilizers Division was achieved in an environment of rising prices and market demand for fertilizers where higher volumes were recorded.

Meanwhile, the Group’s Chemicals Division registered an increase of 18 per cent in revenue of RM439.6 million from RM372.0 million in the same period in 2007. Profit before tax was 38 per cent higher at RM17.7 million from RM12.8 million in the previous year. This was due to higher prices for caustic products and the inclusion of sales and earnings of Enersave Water Sdn. Bhd. which became the Group’s subsidiary in April 2008.

The Pharmaceuticals Division recorded a 15 per cent rise in revenue to RM177.0 million from RM154.0 million in the same period last year. However, due to higher prices of raw materials and lower selling prices of certain products to the Government sector, the Division’s nine months year-to-date profit before tax was 14 per cent lower at RM36.1 million compared to RM42.1 million last year.

Earnings per share increased 97 per cent to 6.19 sen in the third quarter as compared to 3.14 sen in the same quarter last year , and 82 per cent to 16.45 sen from 9.03 sen for the nine months, year-to-date.

The Group does not recommend payment of an interim dividend for this quarter.

CM is listed on the main board of Bursa Malaysia 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
For further information, please contact: Ida Fazila Ismail
 of Eric Pringle Associates Public Relations Sdn Bhd
at Tel No: 21617144 or email:ifazila@epapr.com.my