KUALA LUMPUR: Shares in Chemical Co of Malaysia Bhd (CCM) rose on Monday after the company posted a 21% increase in profit in the first quarter and declares a three sen dividend. CCM shares were up 6.88%, or 13 sen to RM2.02 in early session trading. Its net profit rose 21.3% to RM9.98mil in the first quarter ended March 31, 2018 (1QFY18) from RM8.23mil a year ago, which it attributed to improved sales and positive impact from operational efficiency initiatives. Quarterly revenue increased 14% to RM101.4mil in 1QFY18 from RM88.94mil a year ago, mainly due to improved revenue from both the chemicals and polymers divisions. The group declared an interim dividend of 3 sen per share for the financial year ending Dec 31, 2018, payable on June 29.

Source: The Star May 28, 2018 01:52 UTC