PETALING JAYA: Luxchem Corp Bhd more than doubled its year-on-year net profit for the second quarter ended June 30 to RM16.57mil from RM7.57mil a year ago.

       Revenue was higher by 54% year-on-year to RM215.61mil in the latest quarter.

       Improvements in its financial performance were due to its trading segment, the company said in its financial statement to the Bursa Malaysia.

       “The group’s performance can be affected by fluctuations in the US dollar to ringgit exchange rate, raw material price fluctuations, raw material demand and supply situations, competition and current Covid-19 pandemic situation,” it said.

       Luxchem said that it will continue to improve its own productivity and efficiency to face these external factors and challenges which are uncontrollable. The company also declared a single-tier second interim dividend of 0.8 sen per share that will be payable on Sept 30, to depositors registered by the close of business on Sept 14, 2021.