PETALING JAYA: Magni-Tech Industries Bhd
is keeping a close watch on the conflict in Iran and has implemented measures to minimise any impact on its supply chain and manufacturing activities.
The group released its results for the fourth quarter (4Q26) and financial year ended April (FY26), which saw quarterly net profit edging lower by 18.9% year-on-year (y-o-y) to RM22.95mil. Revenue for 4Q26 also decreased by 7.5% to RM301.8mil.
For the whole of FY26, turnover also dipped 5.6% y-o-y to RM1.4bil, which led to a 12.4% reduction in net profit to RM121.5mil.
“Segment wise, garment revenue for FY26 decreased by 5.8% to RM1.33bil from RM1.41bil y-o-y, mainly from unfavourable foreign exchange movements, despite higher sales orders received during the financial year,” said the group.
Packaging revenue was also lower by 1.8% to RM76.8mil mainly due to lower sale orders received.
The group said lower interest income during FY26 also contributed to the softer profitability.
That said, Magni-Tech proposed a dividend of two sen per share for 4Q26, bringing total the dividend declared for FY26 to 11 sen per share.
