Multi-Chem has posted earnings of $7.1 million in its 3QFY2024 ended September, 23% lower y-o-y.
Revenue decreased by a slight 0.2% y-o-y to $173.3 million.
Gross profit was down 16% y-o-y to $21.04 million, mainly due to the decrease in gross profit margin and increase in inventories written off by $376,000 to $405,000 in 3QFY2024.
Cash and cash equivalents decreased by $5.2 million to $67.8 million, mainly due to increase in dividends paid to shareholders.
For growth, Multi-Chem AWZ will focus on its best-of-breed products and will continue to look out for opportunities for regional expansion to deepen our regional operations.
The company will also promote the M.Tech brand name and intends to work closely with key partners to further promote the products.
See also: Envictus reports profit turnaround with earnings of RM50.6 mil
Shares in Multi-Chem closed 1 cent lower or 0.3% down on Nov 8 to $2.75.
