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Texchem reports best ever 1H earnings performance

admin2022-08-1120

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In a filing with Bursa Malaysia yesterday, the group said the satisfactory performance for 2Q22 is mainly due to the recovery of the restaurant division.

PETALING JAYA: Texchem Resources Bhd has reported a net profit of RM6.73mil for the second quarter of its financial year 2022 (2Q22) compared with a RM424,000 net profit in the previous corresponding quarter, owing to the strong rebound in its restaurant segment.

For the quarter under review, the group saw its restaurant division returning to the black, recording a pre-tax profit of RM3.2mil versus a pre-tax loss of RM9.3mil in the previous comparative period.

The group reported a basic earnings per share of 5.7 sen for 2Q22 compared with 0.35 sen a year ago.

Meanwhile, the group’s revenue for 2Q22 jumped to RM301.46mil compared with RM261.19mil in the previous year.

In a filing with Bursa Malaysia yesterday, the group said the satisfactory performance for 2Q22 is mainly due to the recovery of the restaurant division.

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Consequently, the group reported its best first half bottom-line performance in history after reporting a net profit of RM19.82mil for the first half of financial year 2022 (1H22).

The net profit of RM19.82mil for 1H22 is a 180.7% year-on-year surge compared with the RM7.1mil profit in last year’s comparative period.

During 1H22, the group’s food and restaurant division saw significant growth after recording a pre-tax profit of RM7.2mil and RM9.5mil, respectively.

The board has declared an interim dividend of eight sen per share for the financial year ending Dec 31, 2022.


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