Scientex Q3 net profit jumps to RM109.9m

KUALA LUMPUR, June 23 — Scientex Bhd’s net profit for the third quarter ended April 30, 2021 (Q3) increased to RM109.88 million from RM69.63 million recorded in the same quarter a year ago.

Revenue rose to RM976.80 million from RM772.23 million previously, the company said in a filing with Bursa Malaysia today.

The higher results were driven by better performance in the packaging and property divisions during the quarter compared to the same period previously, it said.

“While the global economy continues to recover, particularly in the major economies, recovery in some economies may be affected by the resurgence in the Covid-19 pandemic, especially the variant strains.

“As such, uncertainty with regard to the successful curbing of the pandemic and the potential risks of heightened financial market volatility may continue to afflict the global economy.

“On the other hand, the current vaccination drive undertaken by world economies is expected to boost sentiments as market confidence gradually returns,” it said. — Bernama

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