KUALA LUMPUR (Feb 21): Hextar Global Bhd's net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) soared 97.95% quarter-on-quarter (q-o-q) to RM14.26 million from RM7.2 million, mainly contributed by its agriculture and specialty chemicals segment.

Full-year net profit was slightly more than a 10th lower, however.

In a bourse filing, the agrochemical company said its 4QFY21 revenue rose 22.67% to RM138.05 million from RM112.55 million in 3QFY21.

The company declared a second interim dividend of 1.2 sen per share, payable on March 25, making up a total payout rate of 73.4% of profit.

On a year-on-year basis, net profit increased by 24.46% from RM11.46 million and revenue by 35.61% from RM101.8 million.

For full FY21, Hextar Global's net profit fell 11.08% to RM39.6 million from RM44.54 million, mainly resulting from various corporate exercises undertaken during the financial year as well as slow performance from the consumer products segment.

Full-year revenue rose 10.86% to RM464.12 million RM418.64 million a year earlier, mainly driven by the consolidation of the financial results of the newly acquired specialty chemicals segment as well as higher contribution from the agriculture segment.

In a separate statement, Hextar Global executive director Datuk Eddie Ong said the company continues to review the performance of the consumer products segment including changing its distribution channels and expanding its product offerings to increase market reach.

He said solid earnings contribution from the specialty chemicals segment has only just begun as a majority of the acquisitions were completed towards the last quarter of 2021.

"However, we now have a very strong platform providing us with consistent growth which in turn will enable us to continue to provide our stakeholders with growing returns. We will also continue to be attentive to the welfare of our clients, employees and our business partners, and to support the underprivileged communities as we've always done," he added.

At Monday (Feb 21) noon break, Hextar Global shares slipped three sen or 1.78% to RM1.66, translating into a market capitalisation of RM2.18 billion.