Samchem confident of growth this year
Shalini Kumar | 19 May 2017 00:30

Samchem Holdings Bhd, a third party distributor of chemical products, is confident of maintaining its impressive growth this year, provided the ringgit remains at its current level.


The company is hopeful of sustaining revenue growth at the level it achieved in first quarter ended March 31. For the quarter, Samchem posted a 37.5% growth in net profit to RM5 mil from RM3.6 mil a year ago. Revenue grew 36% to RM217.6 mil from RM159.6 mil.


In its filing with Bursa Malaysia, the group says the increase in its net profit was due to “the market positioning of the group in the region as it continues to strengthen its competitive capabilities”.


The group, which has a wide network spanning the Southeast Asian region, saw a revenue growth of 16% to RM696.6 mil in FY16, from RM600 mil the previous year. Its net profit surged 270% to RM14.9 mil, from RM4 mil previously. According to the group’s annual report, Malaysia accounted for RM376.3 mil of its revenue last year, or roughly 54%.