Scientex posts higher net profit of RM130.5mil in 3Q, declares 6c div/share

KUALA LUMPUR: Scientex Bhd has reiterated a challenging outlook even as the packaging producer registered double-digit expansions in revenue and bottomline in its latest quarter.

"The global market continues to reflect a challenging outlook, which coupled with high energy costs and inflationary pressure, continues to weigh on operational costs," it said in comments accompanying its results.

For its property division, the group is optimistic that demand for affordable homes will remain resilient over the remainder of the financial year.

In the third quarter ended April 30, 2024, Scientex recorded a net profit of RM130.5mil, up 18.9% from RM109.78mil in the year-ago quarter for a higher earnings per share of 8.41 sen against 7.08 sen previously.

Revenue grew 11.1% to RM1.11bil from RM997.11mil in 3QFY23.

Year-to-date, the group reported net profit of RM409.35mil, a 26.6% increase over RM323.25mil in 9MFY23 on revenue of RM3.31bil, a 10% improvement over RM3.01bil in the comparative period.

Scientex noted that its packaging business saw a 3.38% increase in revenue to RM656.9mil from its industrial and consumer packaging products, driven mainly by the export market.

The property segment, meanwhile, registered a 24.7% jump in revenue to RM451.1mil due to the steady construction progress of ongoing developments and the completion of existing projects, as well as a resilient take-up rate in its new launches in Sungai Dua (Penang), Jenjarom (Selangor) and Jasin (Melaka).

The board of directors declared an interim dividend of six sen per share, going ex on July 9, 2024, and payable on July 19, 2024.

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Scientex , plastic , packaging , property


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