KUALA LUMPUR: Hextar Global Bhd recorded a net profit of RM15.65mil in the primary quarter ended March 31, 2022, a forty five.5% enhance over RM10.75mil in the earlier corresponding quarter on the again of upper turnover.
The group reported income of RM153.63mil in the quarter beneath assessment, which was 33.81% improved over the comparative quarter due to contribution from the newly acquired speciality chemical substances phase.
The agrochemical group mentioned margins improved to 10.7% from 9.3% in the year-ago quarter by means of larger margins from the speciality chemical substances enterprise.
Meanwhile Hextar additionally introduced it had entered right into a share sale settlement with 49%-owned subsidiary Hextar Kimia Sdn Bhd to purchase its two wholly-owned abroad items, Hextar Kimia (Australia) Pty Ltd and International Chemicals Engineering Pty Ltd, to consolidate its foothold in the Australian and New Zealand oil and gasoline markets.
Together with its acquisition of PT Agro Sentosa Raya in Indonesia in 1Q22, the group may have rapid entry to the Indonesia, Australian and New Zealand markets whereas permitting it to add to its capability and geographic presence in respect of its core companies, mentioned government director Datuk Eddie Ong Choo Meng in an announcement.
“As we move into 2022 and while challenging market conditions continue to persist, barring any unforeseen circumstances, the Board expects the Group to continue to maintain its growth trajectory driven mainly by the Specialty Chemical Segment.
“The strong start to the year gives us confidence that we are on track to deliver strong results for the financial year ending 31 December
2022” he added.