Lim(filepic): we will continue our efforts to deliver more well-planned and sustainable townships
KUALA LUMPUR: Scientex Bhd
posted its best-ever quarterly performance in its fourth quarter ended July 31,2018, with a net profit of RM88.29mil, 22% higher than in the same quarter last year as revenue grew 13% to RM733.15mil.
The group proposed a final single-tier dividend of 10 sen per share, which would bring the total payout for the year to 20 sen per share.
In a statement, Scientex said the performance was mainly attributed to higher sales volume as well as maiden contributions from Klang Hock Plastics Industries (KHPI).
Manufacturing revenue grew 21% to RM527mil due mainly to contributions from KHPI while profit from operations jumped 40% on better product mix and margins as well as the improved revenue.
In its property segment, the group saw operating profit grow 22% to RM81.9mil on improved operational efficiencies despite a slight 2.2% dip in revenue to RM206.2mil.
For the full year, Scientex recorded a net profit of RM289.81mil, 13.3% higher than the previous year. Revenue for the financial year came in at RM2.63bil, 9.3% higher than in the previous year.
Lim Peng Jin (pic), managing director of Scientex, said the group is confident of delivering 50,000 affordable houses by 2028 due to its land bank purchases of nearly RM500mil in FY2018 in strategic locations in Rawang in Selangor, Senai and Pulai in Johor, and Durian Tunggal in Melaka.
"We are extremely buoyed by the demand for our developments, as our new launches in Melaka, Johor, and Ipoh have achieved overwhelming take-up rate within 6 months from the launch dates. This showcases the underlying demand for affordable housing and demonstrates buyers’ confidence in our developments," he said.
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