The company said it is mainly due to the decrease in profit before tax.
Multi-Chem Limited reported a 23% net profit decline to $7.1m during the third quarter of the year (Q3 2024).
The company said it is mainly due to the decrease in profit before tax and the increase in income tax expense.
The increase in income tax expense of $169,000 in Q3 2024 was due to higher taxable profit generated after adding back non-deductible tax expenses.
Multi-chem's revenue also fell 0.2% QoQ during the period to $173.3m.
The group did not declare dividends for the quarter.
