Report
Hextar Global Bhd
Block K-08-02
No.2, Jalan Solaris, Solaris Mont Kiara
Phone: +60 327839191p:+60 327839191 KUALA LUMPUR, 59200  Malaysia Ticker: HEXTARHEXTAR

Hextar announces dividend, bonus issue after record RM44.5m full-year profit


KUALA LUMPUR: Agrochemical manufacturer Hextar Global Bhd posted a record net profit of RM44.5 million for the year ended Dec 31 last year compared with RM2.4 million in the previous year.

Group revenue rose 23.8 per cent to RM417.6 million due to operational efficiencies.

For the fourth quarter, Hextar’s net profit soared 47.4 per cent to RM11.5 million from RM7.8 million in the same period in 2019.

Revenue rose 21.7 per cent to RM100.8 million from RM82.8 million previously.

“This reflected a strong performance in the agrochemical segment.” Hextar’s earnings per share for the quarter rose to RM1.40 from 95 sen.

The company has approved a fourth interim dividend of 0.8 sen per share.

“Financial year 2020 was a year of significant accomplishments for Hextar.

“We have exceeded our targets in terms of revenue generation and earnings,” said executive director Datuk Eddie Ong Choo Meng in a statement yesterday.

Hextar also announced a bonus issue of up to 492.4 million new shares on the basis of three bonus shares for every five existing shares. The entitlement date of the bonus issue shares would be determined later, it said.

Ong said the bonus issue was to reward shareholders.

“We remain positive on the overall business prospects due to the fact that the agriculture segment will continue its growing momentum and we expect positive contributions from the newly-acquired biogas business.

“We have been awarded two contracts worth RM17 million since the acquisition and are still actively tendering for businesses,” he added.

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Monday, March 1, 2021