CAHYA Mata Sarawak Bhd (CMS) posted a net profit of RM128.2 million for the financial year ended Dec 31, 2024 (FY24), up 12% from the previous year, on the back of a revenue of RM1.196 billion.

The higher profit was contributed by the cement division driven by lower cost, followed by property development and road maintenance division due to the improvement in gross profit margin and lower operating cost from Phosphates division, the company said in an exchange filing.

The Sarawak-based company’s net profit for the quarter ended Dec 31, 2024 (4Q24) jumped 85% to RM65.8 million compared to the same period last year mainly due to higher net realisable value of inventories written down and strengthening of USD against Ringgit primarily from phosphates division.

CMS oversees a portfolio of over 35 companies across diverse sectors such as cement, road maintenance, property development, oiltools, environmental technology, phosphates manufacturing, and strategic investments, which include financial services and telecom infrastructure.

The counter closed at RM1.00, valuing the company at RM1.07 billion. Its 52-week high/low was RM1.50/91 sen. –TMR