KUALA LUMPUR: Industrial chemical supplier Luxchem Corporation Bhd reported a net profit of RM6.6 million for its third quarter 2024 (3Q24), down 26 per cent from RM9.07 million the same period last year.
However, Luxchem saw an 18 per cent increase in its revenue of RM196 million, compared to RM165.7 million last year.
In a filing with Bursa Malaysia, the company said the increase was attributable to the trading and manufacturing segments.
Luxchem said its performance can be affected by several key challenges such as US dollar and ringgit exchange rates, raw material price fluctuations, raw material demand and supply situations, stiff competition and on-going global geopolitical conflict.
"The group will continue to improve its own productivity and efficiency to face these external uncontrollable factors and challenges," it said.