Scientex earnings down on rising raw material prices

PETALING JAYA: Scientex Bhd posted a 16.48% drop in net profit to RM93.69mil for the second quarter ended Jan 31, 2022 from RM112.17mil a year earlier, dragged down by rising material prices and freight costs.

However, the plastic packaging manufacturer and property developer recorded a 5% jump in revenue to RM952.0mil compared to RM906.55mil previously, thanks to higher demand for plastic packaging products.