KUALA LUMPUR, June 21 (Bernama) -- Scientex Bhd reported a net profit of RM130.49 million for the third quarter ended April 30, 2024 (3Q), up from RM109.78 million a year earlier.
Revenue increased by 11.1 per cent to RM1.10 billion compared to RM997.11 million previously, the company said in a filing with Bursa Malaysia today.
Scientex said its packaging revenue amounted to RM656.9 million compared to RM635.4 million recorded in the preceding year’s corresponding quarter, contributed by both its industrial and consumer packaging products, driven mainly by its export market.
Meanwhile, the property revenue stood at RM451.1 million, reflecting an increase of 24.7 per cent compared to RM361.7 million recorded in the preceding year’s corresponding quarter, due to steady construction progress for all ongoing developments and completion of existing development projects.
“Additionally, the resilient take-up rate of our new launches in Sungai Dua (Penang), Jenjarom (Selangor) and Jasin (Melaka) also contributed to the increase in revenue,” it said.
For the first nine months ended April 30, 2024, Scientex’s net profit rose to RM409.35 million on the back of a higher revenue of RM3.30 billion.
On prospects, the company said the packaging division remains focused on improving its operational efficiency as well as emphasising cost, quality and delivery to customers to maintain its competitiveness in the market.
Apart from that, the group is committed to expanding its renewable energy footprint across its headquarters and 10 key manufacturing plants nationwide.
“The group will deploy the rooftop solar photovoltaic (PV) system with a capacity of approximately 21-megawatt peak (MWp).
“The rooftop solar PV system installation commenced in May 2024 and will be completed by January 2025. With that, the packaging division expects to offset part of the energy costs with embedded sustainability in its operations,” it said.
-- BERNAMA
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