Megachem's FY13 net profit falls 21%

SPECIALITY chemicals distributor Megachem posted a 21.1 per cent decline in net profit attributable to equity-holders to $2.5 million for the financial year ended Dec 31, 2013, from $3.17 million a year ago.

Revenue rose 2.3 per cent to a record $108.7 million from $106.3 million a year earlier, on higher sales from the Asean and American markets.

The Asean markets recorded a 3.7 per cent gain in sales from $71.1 million to $73.8 million in FY2013, while the American markets saw a 55.8 per cent increase in sales from $7.34 million to $11.4 million.