Q2 net profit rises to RM65.19m on back of higher rev­enue con­tri­bu­tion from con­sumer pack­ag­ing busi­ness

New Straits Times - - Business -

GLOBAL pack­ag­ing man­u­fac­turer and prop­erty de­vel­oper Scien­tex Bhd ex­pects its growth dur­ing fi­nan­cial year end­ing July 2017 to be driven by ex­ports from its en­larged con­sumer pack­ag­ing busi­ness.

As at end-De­cem­ber, Scien­tex com­pleted its ex­pan­sion into bi­ax­i­ally-ori­ented polypropy­lene film man­u­fac­tur­ing as well as the set­ting up of a new cast-polypropy­lene film plant.

Its en­larged pro­duc­tion ca­pac­ity helped it to achieve the bestever quar­terly per­for­mance in the sec­ond quar­ter ended Jan­uary, with rev­enue and net profit at RM586.25 mil­lion and RM65.19 mil­lion, re­spec­tively.

Group rev­enue and net profit were RM545.43 mil­lion and RM64.62 mil­lion, re­spec­tively, in the cor­re­spond­ing quar­ter a year ago.

Scien­tex’s man­u­fac­tur­ing seg­ment con­trib­uted RM411.91 mil­lion to sec­ond quar­ter rev­enue, ris­ing 2.5 per cent from RM401.99 mil­lion pre­vi­ously.

Man­ag­ing di­rec­tor Lim Peng Jin said it saw en­cour­ag­ing progress, with grow­ing sales to both lo­cal and ex­port mar­kets.

“We look for­ward to ramp­ing up pro­duc­tion in sub­se­quent quar­ters,” he added.

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