Scientex 4Q net profit jumps 61%, declares 10 sen dividend

KUALA LUMPUR (Sept 26): Scientex Bhd's net profit for the fourth quarter ended July 31, 2019 jumped 61% year-on-year to RM133.4 million from RM82.99 million, on the back of better sales performance achieved from both the manufacturing and property divisions.

In a filing today, the packaging manufacturer and property developer said revenue for the quarter rose to RM938.77 million versus RM720.72 million a year earlier.

Earnings per share rose to 25.89 sen from 16.97 sen previously.

Scientex declared a final dividend of 10 sen per share to be paid on Jan 10, 2020.

For the financial year ended July 31 (FY19), Scientex's net profit rose 17.3% to RM333.7 million from RM284.51 million a year ago on the back of a 24.8% rise in revenue to RM3.25 billion against RM2.6 billion.

In a separate statement, Scientex managing director Lim Peng Jin said amidst the prevailing market doldrums in the domestic and international arena, Scientex has bucked the trend to report record-breaking performance, propelled by double-digit expansion through its organic growth initiatives and strategic inorganic measures.

"Our manufacturing segment has grown from strength to strength, driven by our prowess in product innovation and manufacturing efficiency," he said.

Lim said Scientex's property development segment continues to shine, underpinned by resilient demand for affordable homes in Peninsular Malaysia.

"We are heartened by recent nationwide efforts to accelerate homeownership and ease affordability, which would spur demand for affordable homes.

"All said, Scientex is well geared towards achieving our vision of delivering 50,000 affordable homes by 2028," he said.

Commenting on Scientex's prospects for FY20, Lim said both the manufacturing and property development segments are expected to perform resiliently.

At the midday break today, Scientex shares were 0.58% or 5 sen higher at RM8.68, valuing the group at RM4.47 billion.

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