PETALING JAYA: Ancom Nylex Bhd remains committed to executing robust growth strategies while providing consistent support to crop growers through its agricultural chemicals (agrichem) active ingredient (AI) products.

       Managing director and group chief executive officer Lee Cheun Wei said the group had commenced the trials for one of its new AI products at its new agrichem production facility in Port Klang.

       He believes this advancement further strengthens the group’s position as the sole large scale manufacturer of herbicide AI in South-East Asia.

       For the first half of financial year 2024 (1H24), Ancom Nylex reported a revenue of RM992.5mil compared to the RM1.08bil recorded in the previous corresponding period.

       Its net profit improved by 5.7% year-on-year (y-o-y) to RM42.9mil from RM40.6mil previously, marking the strongest first-half performance in the group’s history.

       For its second quarter ended Nov 30, 2023 (2Q24), Ancom Nylex reported a revenue of RM505.2mil compared to RM531.3mil in 2Q23.

       Nevertheless, the group recorded a higher net profit of RM22.1mil for the quarter, representing a 7.6% y-o-y increase from RM20.6mil in 2Q23, driven by increased sales of high-margin products. It has proposed a first interim dividend for FY24 by way of dividend-in-specie at a ratio of one share for every 100 held.

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