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KUALA LUMPUR (Feb 25): Cahya Mata Sarawak Bhd (KL:CSMB) reported a 70.3% drop in fourth-quarter net profit, due to the absence of RM48.41 million in foreign exchange (forex) gains, higher precommissioning costs for its phosphate plant and lower contributions from associates.
For 4QFY2025, net profit fell to RM19.56 million from RM65.8 million a year earlier while revenue declined 8.8% to RM311 million from RM340.99 million, a bourse filing showed.
Forex gains fell to RM951,000 from RM48.41 million a year ago after the subsidiary switched its functional currency to ringgit, removing future US dollar revaluation gains.
The group also incurred RM14.2 million in precommissioning costs for its phosphate plant, which it said were part of efforts to strengthen operational readiness and support future growth. Its share of results from associates also nearly halved to RM11.85 million.
On a brighter note, the cement division delivered stronger results, with segment profit rising 10.2% to RM45.09 million and revenue up 11.3% to RM194.61 million.
The group declared a first and final dividend of three sen per share, unchanged from last year, subject to shareholder approval at the upcoming annual general meeting.
For the full year, net profit fell 48.8% to RM65.69 million from RM128.19 million while revenue slipped 7.3% to RM1.11 billion from RM1.19 billion.
Looking ahead, Cahya Mata said work on the RM550 million Borneo Convention Centre Kuching 2 project has commenced, with progress expected to accelerate in the coming year.
Meanwhile, electricity reconnection to its phosphate plant has enabled the resumption of testing and commissioning activities, which are expected to continue until the third quarter of 2026.
Lastly, it said the construction of the Mambong Clinker Line 2 at Cahya Mata Cement Sdn Bhd is also on track for completion in 2027.
Shares in Cahya Mata closed unchanged at RM1.42 on Tuesday, giving the group a market capitalisation of RM1.53 billion. The stock has gained 29.1% over the past year.
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