Magni-Tech 4Q earnings jumps 33.6%

KUALA LUMPUR: Magni-Tech Industries Bhd, which saw its net profit jump 33.6% in the fourth quarter ended April 30 (4Q24), remains cautiously optimistic for the financial year ending April 30, 2025 (FY25).

“The global economy continues to be volatile amidst geopolitical tensions and trade war uncertainties. The broader marketplace remains promotional as businesses are driving towards healthier inventory levels,” Magni-Tech said in a Bursa filing.

The garment manufacturing and packaging firm’s net profit jumped 33.6% to RM34.5mil, or earnings per share of 7.96 sen in 4Q24 compared with RM25.8mil, or 5.96 sen posted last year.

Revenue rose 36.6% to RM336.9mil against RM246.6mil in the same quarter last year.

For FY24, Magni-Tech posted a net profit of RM128.4mil, up 34.6% from RM95.4mil last year while revenue expanded 10.6% to RM1.34bil compared with RM1.21bil a year prior.

Magni-Tech also announced a fourth single-tier interim dividend of 3.30 sen per ordinary share. The entitlement and payment dates are fixed on July 11 and July 23 respectively.

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