SCGM's share price falls 2.21% after net profit dips slightly in Q2

PETALING JAYA: SCGM Bhd's share price fell 2.21% this morning, after it saw a slight decrease of 3.12% in its net profit to RM5.26 million for the second quarter ended Oct 31, 2017 against RM5.43 million a year ago.
At 11.39am, the stock stood at RM2.66 with 11,200 shares changing hands. It has a market capitalisation of RM519.4 million.
The plastic packaging manufacturer told the stock exchange yesterday, the lower net profit was due to change in sales mix and higher raw material cost.
Its revenue for the quarter improved by 24.02% to RM52.11 million from RM42.02 million in the same quarter last year due to significant increase in sales turnover which was mainly spurred by higher sales demand for plastic packaging products.
It has proposed to declare an interim dividend of 1.5 sen per share.