Cahya Mata Sarawak publishes first quarter 2020 report

Malaysia: Cahya Mata Sarawak (CMS) has reported a first quarter profit of US$4.04m, down by 64% year-on-year from US$11.4m in 2019. Sales fell by 32% to US$65.9m from US$97.6m. The company said, “Ordinarily, there is a lower level of activity in the first quarter;” however it predicted a 50% year-on-year profit drop for its cement division in the first half of 2020. It said that it expects its construction materials and trading division’s performance to “pick up and remain strong” in the second half of 2020.