PETALING JAYA: Southeast Asia’s totally built-in chemical group, Ancom Nylex Berhad’s
group income got here in at RM2.00 billion FY24 versus RM2.04 billion achieved a 12 months in the past.
This was disclosed when the corporate introduced its fourth quarter (4QFY24) and 12 months monetary outcomes for the interval ended Might 31, 2024 (FY24).
In the meantime, Ancom Nylex posted its best-ever bottom-line efficiency for the monetary 12 months underneath assessment. FY24 revenue after tax and non controlling curiosity (PATNCI or web revenue) rose 8.4% year-on-year (YoY) to RM81.5 million. This surpassed the report RM75.1 million posted in FY23.
Agricultural Chemical compounds (Agrichem) section continued to be the important thing development contributor. Earnings earlier than curiosity and tax (EBIT) for this section jumped 25.3% YoY to RM106.5 million vis-à-vis RM85.0 million in FY23. This was mainly attributed to stronger gross sales of merchandise with higher revenue margins.
Ancom Nylex managing director and Group CEO Lee Cheun Wei stated, “We’re proud to have registered our second consecutive 12 months of best-ever web revenue efficiency particularly on the again of the macroeconomic uncertainties. Whereas we anticipate market challenges to persist within the upcoming monetary (FY25), Ancom Nylex continues to be upbeat on our development prospects.”
For his or her Agrichem section, he added they’re charting good progress for his or her new energetic
ingredient (AI).
“Whereas the manufacturing trial stays ongoing, we’ve efficiently delivered samples to our shoppers for his or her in-house high quality checks. We goal to start out business manufacturing of the brand new AI, primarily utilizing the intermediate produced in-house to avoid provide chain disruptions beforehand encountered when importing the intermediate inputs,” stated Lee.
On the demand outlook, he stated Latin and North American markets proceed to expertise sustained demand for his or her core AI-related merchandise.
The Group, he added is making headway to increase their proprietary product choices to larger-hectare crops in Latin America.
“We’re actively pursuing label registration and have accomplished three trials on larger-hectare crops with promising outcomes. Extra excitingly, we’ve just lately secured a long-term contract with a North American buyer for the provision of a key AI product. This offers us wholesome earnings visibility for the approaching years,” stated Lee.
In the meantime, he added the streamlining initiatives for his or her industrial chemical substances section
have begun to bear fruit, with extra advantages to their efficiency anticipated to be realised in FY25.
Forging forward, he stated they want to construct on the robust optimistic momentum and report bottom-line efficiency achieved in FY24 whereas being conscious of the worldwide financial situations equivalent to elevated delivery prices.
For the present quarter underneath assessment, the Group recorded a web revenue of RM18.4 million towards a income of RM487.0 million. This was a slight enchancment from RM18.2 million and RM478.2 million respectively from a 12 months in the past.
On a quarteron-quarter (QoQ) foundation, 4QFY24 web revenue was decrease than the RM20.1 million
achieved within the quick previous quarter as a consequence of greater impairment of commerce receivables made in adherence to prudent accounting practices.
Ancom Nylex generated one more wholesome web working money move (NOCF) for FY24, amounting to RM128.6 million. The Group has been producing optimistic NOCF yearly since FY18.