Scientex 4Q profit soars 61.4% to RM48.8m, proposes 13 sen dividend

by **Cals** Thu 25 Sep 2014, 01:20

Business & Markets 2014

Written by Jeffrey Tan of theedgemalaysia.com

Wednesday, 24 September 2014 13:09

KUALA LUMPUR (Sept 24): Scientex Bhd’s net profit soared 61.4% to RM48.8 million for the fourth quarter ended July 31, 2014, from RM30.3 million in the previous corresponding quarter.

Revenue jumped 11.9% to RM415.4 million, from RM371.2 million previously.

For the full-year, Scientex’s net profit stood at RM148.5 million versus RM110.3 million in the previous year, while revenue rose to RM1.59 billion from RM1.23 billion a year ago.

The predominantly industrial stretch film producer recommended a single tier final dividend of 26% or 13 sen per share.

In a statement to Bursa Malaysia, the company said both its manufacturing and property segments saw higher profits in line with higher revenue recorded.

The firm said its manufacturing segment’s higher revenue and profit was mainly due to the better sales performance achieved from the industrial packaging products and the full year contribution from the consumer packaging products.

In the property segment, revenue jumped 25.8% mainly due to progress billings from on-going projects, as well as the maiden contribution from the Taman Scientex Senai project, which saw overwhelming response.

Scientex added that the response from the new launches of Taman Scientex Pasir Gudang, Taman Scientex Kulai and Taman Mutiara Mas, Johor and Melaka remained encouraging.

Barring any unforeseen circumstances, the company said it remained optimistic of its performance for both segments in the coming financial year.

Scientex said its manufacturing segment would remain alert and responsive to any adverse global developments whilst continuously seeking to improve its competitive strengths.

While it is cautiously optimistic for its property segment in the coming financial year due to the property cooling measures, the firm believes opportunity does exist in higher end segment despite current environment constraint.