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Magni-Tech 1Q profit climbs 9% to RM9.1m
by Cals Wed 18 Sep 2013, 02:09
Magni-Tech 1Q profit climbs 9% to RM9.1m
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com
Tuesday, 17 September 2013 19:00
KUALA LUMPUR (Sept 17): MAGNI-TECH INDUSTRIES BHD []’s net profit climbed 9% year-on-year to RM9.1 million in the first quarter ended July 31, 2013 from RM8.4 million.
Revenue rose 15% to RM151 million from RM131.8 million in the previous corresponding quarter, the packaging and apparel manufacturer said in a filing to the stock exchange.
Magni-Tech attributed the improved net profit to higher investment-related income.
It said higher revenue was due to the increase in sales orders received from both the garment, and packaging businesses. Sales orders had risen 15.7% and 10.3% in both units respectively.
“Going forward, the manufacturing and sale of garment will be the group’s major revenue contributor.
“We maintain a cautious positive outlook for the remaining quarters of the financial year ending April 30, 2014 amid global economic uncertainty,” the firm said.
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com
Tuesday, 17 September 2013 19:00
KUALA LUMPUR (Sept 17): MAGNI-TECH INDUSTRIES BHD []’s net profit climbed 9% year-on-year to RM9.1 million in the first quarter ended July 31, 2013 from RM8.4 million.
Revenue rose 15% to RM151 million from RM131.8 million in the previous corresponding quarter, the packaging and apparel manufacturer said in a filing to the stock exchange.
Magni-Tech attributed the improved net profit to higher investment-related income.
It said higher revenue was due to the increase in sales orders received from both the garment, and packaging businesses. Sales orders had risen 15.7% and 10.3% in both units respectively.
“Going forward, the manufacturing and sale of garment will be the group’s major revenue contributor.
“We maintain a cautious positive outlook for the remaining quarters of the financial year ending April 30, 2014 amid global economic uncertainty,” the firm said.
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