KUALA LUMPUR: Chemical supplier Luxchem Corp Bhd more than doubled its earnings in the second quarter on strong domestic demand for its products.

       Net profit soared 118% to RM16.6mil from RM7.6mil made a year ago. Revenue increased 54% to RM215.6mil.

       "The higher revenue was attributable to trading segment," Luxchem said in a filing with Bursa Malaysia today.

       On its outlook for the year, Luxchem said its performance can be affected by fluctuations in USD/RM exchange rates, raw material price fluctuations, raw material demand and supply situations, competition, as well as the current Covid-19 pandemic situation.

       Quarter-on-quarter, the group reported a drop in sales, while profit was dragged lower by its manufacturing business.