Scientex posts higher profit on better margins

In its filing to Bursa Malaysia, Scientex said the global economic conditions remained challenging as the world continues to take precautionary and containment measures to curb the Covid-19 contagion.

PETALING JAYA: Scientex Bhd has posted a 14.3% year-on-year (y-o-y) jump in net profit to RM92.5mil for its first quarter ended Oct 31, mainly due to its packaging products arm’s better sales mix and margins.

Revenue for the quarter was 8.6% lower y-o-y to RM802.3mil, mainly due to lower packaging products’ export sales as a result of the slowdown in the global economy.