Thanks to a reader:
OM Sawarak has just announced first-quarter 2018 profit results via its 25% partner Cahya Mata. CMSB reported a profit contribution of RM36.05-million, this its share, therefore OM Sarawak total profit for the quarter is A$48.82-million
The amount of product sold during the quarter was 59,582 mt of ferrosilicon and 65,813 mt of manganese alloys. This equates to a profit of $389 per mt average. The profit on Mn alloys is not this much per mt, so we can attribute $250 per mt profit to Mn alloys and therefore FeSi profit would be $543 per mt.
This means that OMH recorded a A$36.5-million profit for the first quarter 2018, up more than 20% on the last quarter and up nearly 50% since the 3rd quarter.
From the press release
“Commenting on the results, CMSB Group Chief Executive Officer – Corporate, Dato Isaac Lugun, said: “The improvement in our financial performance for 1Q 2018 has mainly been due to the strong turnaround of our associate, OM Materials (Sarawak) Sdn Bhd, which was buoyed by the improvement in commodity prices, and improved contributions from our other associate companies. We believe that our growth strategy for our strategic investments, to drive the next wave of growth for CMS Group, is beginning to come to fruition.”