FCPO breaking new high, and now labour shortage issues at plantations continue to improve as foreign labor are brought in. Plantations will be more effective in applying agrochemicals to boost their yields for better income = more sales for Ancom
On behalf of the Board of Directors of Ancom (?Board?), Kenanga Investment Bank Berhad wishes to announce that the Company proposes to undertake the following:
(i) proposed distribution of up to 18,356,515 ordinary shares in Nylex (Malaysia) Berhad (?Nylex?) (?Nylex Shares?) by way of dividend-in-specie to the shareholders of the Company on the basis of 1 Nylex Share for every 20 ordinary shares in Ancom (?Ancom Shares?) held by shareholders of the Company whose names appear in the Record of Depositors of the Company on an entitlement date to be determined and announced by the Board at a later date (?Proposed Dividend-In-Specie?); and
(ii) proposed share split involving the subdivision of every 1 existing Ancom Share held by shareholders of the Company whose names appear in the Record of Depositors of the Company on an entitlement date to be determined and announced by the Board at a later date into 3 Ancom Shares (?Proposed Share Split?).
Ancom Nylex Q3 FY22 revenue rose 31.0pc YoY to RM510.0mil
KUALA LUMPUR: Ancom Nylex Bhd (ANB) posted a revenue of RM510.0 million for the third quarter (Q3) ended 28 February 2022 (FY22), a surge of 31.0 per cent year-on-year (YoY) from RM389.2 million last year.
In tandem with the higher turnover, net profit doubled YoY to RM15.1 million for Q3 from RM7.1 million in the same quarter of FY21.
For Q3, the agricultural chemicals (Agrichem) segment reported revenue of RM98.2 million, improving by 15.5 per cent YoY.
The industrial chemicals division reported revenue of RM371.9 million for Q3 FY22, improving from RM262.5 million last year.
Managing director and group chief executive officer Lee Cheun Wei said the sustained growth momentum was mainly supported by the agrichem division, which saw an increase in orders from export markets and Malaysia.
"Plantation operators worldwide have been working hard to fulfil the rising food demand, indirectly resulting in the surge in herbicide prices.
"Moreover, the two new agrichem active ingredients rolled out earlier have also contributed to our bottom-line increase," he said in a statement today.
Looking ahead, Lee said the company remains upbeat on its agrichem business prospects following visits to key export markets in recent months.
"Overall, we anticipate demand from countries such as Thailand, Brazil, and Malaysia to increase.
"Meanwhile, ANB faced growth momentum for the industrial chemicals arm with some headwinds in the Q3 of FY22.
"Nevertheless, we believe the division's performance will be better over the coming periods as prices for petrochemical products are currently trading at higher levels than their historical averages," he said.
For the nine-month (9M) of FY22, ANB's top line increased 32.5 per cent YoY to RM1.45 billion.
Net profit jumped 122.0 per cent YoY to RM36.3 million for the period compared to RM16.3 million in 9M FY21.
B4 the qtr result announced I had been queueing to buy the warrants at 2.70 - 2.75 for almost 3 weeks but couldn't get any. Now with the good results announced suddenly I could get cheaper... I bought yesterday at average 2.60. But today even cheaper!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....