Hextar Global has released its Q3 financial results with a decrease of 30% in profits from RM14.65 million recorded in 2020 to RM10.26 million for this quarter.
Its profit after tax was RM7.1 million with a Revenue of RM112.5 million, a marginal increase in revenue of RM 1 million over 3QFY20, this was achieved despite a challenging global business environment. Hextar notes the decline in profits was mainly attributed to global supply chain disruption that has caused raw material shortages and price escalations
across industries.
For the 9 months period, the Group recorded a PAT of RM25.1 million, while Revenue and Profit Before Tax were at RM326.1 million and RM35.2 million respectively. The decrease in earnings was mainly due to the higher cost of goods sold and operating expenses.
Executive Director Dato’ Eddie Ong Choo Meng remains optimistic about the performance of the Group and commented that “Demand for Agrochemical products has been increasing but delivery has been delayed due to bottlenecks in the supply chain. We believe that the situation should normalize soon but we will continue to
monitor the current global supply chain issue closely as it remains an impediment to business operations globally.
A company that was active in acquisition this year, has informed that it has completed the process with Nobel Synthetic Polymer and Nobel Scientific, Alpha Aim, and Chempro Technology. It expects these companies to contribute positively to future earnings.
