Cahya Mata Sarawak Berhad Posts Record Profits – CMSB’s year-on-year pre-tax profit up 16% to RM341 million

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Kuching (Sarawak), Wednesday, 25 February 2015 – Cahya Mata Sarawak Berhad (CMSB – 2852), the State’s leading infrastructure facilitator, has delivered a strong performance for the (unaudited) financial year ended 31 December 2014 (FY2014). The Group reported a total revenue of RM1.67 billion for FY2014, an 18% increase from the corresponding year’s (FY2013) revenue of RM1.42 billion. The pre-tax profit (PBT) recorded for FY2014 was RM341.45 million, a 16% increase compared with FY2013’s PBT of RM294.89 million. The PBT reported for the fourth quarter ended 31 December 2014 (4Q14) also remained strong at RM72.43 million.

Year-on-year, the Group’s profit after tax and non-controlling interests (PATNCI) of RM221.34 million for FY2014 is 26% higher than the RM175.07 millKuching (Sarawak), Wednesday, 25 February 2015 – Cahya Mata Sarawak Berhad (CMSB – 2852), the State’s leading infrastructure facilitator, has delivered a strong performance for the (unaudited) financial year ended 31 December 2014 (FY2014). The Group reported a total revenue of RM1.67 billion for FY2014, an 18% increase from the corresponding year’s (FY2013) revenue of RM1.42 billion. The pre-tax profit (PBT) recorded for FY2014 was RM341.45 million, a 16% increase compared with FY2013’s PBT of RM294.89 million. The PBT reported for the fourth quarter ended 31 December 2014 (4Q14) also remained strong at RM72.43 million.ion reported for FY2013. Earnings per share stood at 21.42 sen versus 17.52 sen* (adjusted for share split & bonus issue in June 2014) from last year.

The main contributors towards the strong PBT earnings for FY2014 were the Cement, Construction & Road Maintenance and Construction Materials & Trading Divisions. The Cement Division recorded a PBT of RM120.48 million in FY2014, a 25% increase in comparison to FY2013’s PBT of RM96.66 million. The Construction Materials & Trading Division reported a PBT of RM76.48 million for FY2014, exceeding FY2013’s PBT of RM55.08 million by 39%. The Construction & Road Maintenance and Property Development Divisions also reported strong revenue and PBT earnings to contribute towards the Group’s results for FY2014.

Commenting on the results, Dato’ Richard Curtis, Group Managing Director of CMSB said, “CMSB’s success in recording five years of record revenue and profits growth in a challenging business environment is attributable to our prudent business model, professional management and focus on delivering long-term sustainable growth. Significant achievements have been recorded; namely by the Cement, Construction Materials & Trading, Construction & Road Maintenance and Property Development Divisions. With strong financial performance recorded in 2014, we hope to carry forward this momentum as we move into a new era of transformational growth.”

“We believe that CMSB is one of the best proxy listed investments for Sarawak’s accelerating economic growth. This is consistent with the State’s promotion of energy intensive industries under the Sarawak Corridor for Renewable Energy (SCORE) initiative and the infrastructure and related services required across the State. These two drivers, which are long term and not affected by oil prices, are set to propel the State’s economy and CMSB to new heights.

“CMSB’s 20% stake in the joint venture ferro silicon and manganese alloys smelter project with Australian listed OM Holdings Ltd, and 40% stake in an integrated Phosphate Products complex with Malaysian Phosphate Additives Sdn Bhd and Arif Enigma Sdn Bhd – plus other investments being evaluated – are poised to significantly drive up shareholder value. With professional employees, world-class capabilities, a focussed strategy and synergetic business portfolio across Sarawak, CMSB is increasing its value and growth for all four of our stakeholders – our Shareholders, Staff, Customers and Community – bringing prosperity to all”, said Dato’ Curtis.