L & M CHEMICAL (00746) released its annual performance, reporting a net profit of HK$482 million for the year, representing a 20.37% year-on-year increase.

L & M CHEMICAL (00746) released its annual results for the year ending December 31, 2024. The group achieved a total revenue of HK$3.951 billion during the period, a decrease of 2.46% year-on-year. The net profit for the year was HK$482 million, an increase of 20.37% year-on-year. Earnings per share were 58.5 HK cents. Looking back on the year, the gross profit was approximately HK$1.164 billion, an increase of HK$102 million from the previous year. The increase in gross profit was due to lower raw material prices and energy costs. In terms of the chemical business, the average selling prices per ton (including VAT) of the group's products for the year compared to the same period last year were approximately RMB 2850 for methylene chloride (dichloromethane and chloroform) and RMB 2640 for caustic soda, an increase of approximately 4% and 7% respectively; RMB 940 for PVC, unchanged from last year; RMB 44960 for polytetrafluoroethylene, a decrease of approximately 5%; and RMB 860 for hydrogen peroxide, a decrease of approximately 16%. The actual production volumes (including self-use) of key products were approximately 400,000 tons for methylene chloride, 590,000 tons for caustic soda, 9,000 tons for polytetrafluoroethylene, and 410,000 tons for hydrogen peroxide. In the property business, during the year, the group sold an additional 17 residential units in the "Xinyue Creek" project, generating revenue of approximately HK$29 million from the property business. By the end of the year, over 90% of the residential units in "Xinyue Creek" had been sold, with 11 units remaining unsold.