KUALA LUMPUR: Hextar Global Bhd registered a higher net profit of RM15.65 million in the first quarter (Q1) ended March 31, 2022, from RM10.75 million a year ago.
The company also recorded a positive quarterly revenue of RM153.63 million in Q1 FY22, compared to RM114.82 million previously.
The strong performance of the speciality chemicals segment was mainly attributed to revenue from the rubber industry, it said.
Commenting on Hextar's financial performance, executive director Datuk Eddie Ong Choo Meng said the result reflects the company's ability to continue the momentum achieved in the previous financial year.
Ong said that despite the challenges Hextar faces in its operating environment, from volatile raw material prices to supply chain disruptions, it had grown its revenue and net earnings.
"We have also been able to improve our margins from 9.3 per cent in Q1 2021 to 10.7 per cent through higher margins from the speciality chemical business," he said.
Ong said that barring any unforeseen circumstances, the board expects the company to continue maintaining its growth trajectory, driven mainly by the speciality chemical segment.
"The strong start to the year gives us confidence that we are on track to deliver strong results for the financial year ending December 31, 2022," he added.