Higher export sales boost Scientex Q2 earnings

PETALING JAYA: Scientex Bhd’s net profit grew 4.3% to RM67.98 million in the second quarter ended Jan 31, 2018, from RM65.19 million in the previous corresponding quarter on higher export sales.
Revenue for the quarter increased 8.3% to RM634.8 million from RM586.2 million in the same period a year ago.
For the six-month period, its net profit jumped 19.7% from RM117.2 million to RM140.4 million, while revenue rose 15.4% from RM1.12 billion to RM1.29 billion.
On its prospects, managing director Lim Peng Jin said the group is eyeing continued growth in both its manufacturing and property operations.
Scientex said it is set to launch RM600 million worth of new properties in the second half of the financial year ending July 31, 2018.
The group is on track to completing the RM190 million acquisition of Klang-based Klang Hock Plastic Industries Sdn Bhd in the second quarter of 2018, which will boost its production capacity to 455,000 tonnes from 356,000 tonnes currently.
On Bursa Malaysia today, Scientex fell 9 sen 1.1% to RM8.03, on volume of 158,600 shares.