Integrated chemicals and lubricants distributor Samchem Holdings’ second quarter results recorded revenue of RM366.67 million compared to RM371.56 million achieved in the corresponding period of the preceding year.
The marginal decrease was due to slightly lower sales volume as compared to 2Q2021. Profit after tax and minority interest during the quarter dropped slightly by 5% to RM18.21 million as compared to 2Q2021. This was due to the narrower margin arising from the challenging environment during the quarter.
Chief Executive Officer, Mr. Ng Thin Poh commented: “We delivered a set of satisfactory financial results in 2Q2022 despite operating amid uncertain and unfavourable macro conditions, continuously elevated logistics, and higher input costs. Our team responded well to ensure that customers were served with agility while continuing to focus on long-term excellence.
The group remains committed to growing its capacity with the imminent completion of the Pulau Indah warehouse and Vietnam expansion which will commence operations early next year.