KUALA LUMPUR, Sept 29 — Plastic products manufacturer, Scientex Bhd (Scientex) has posted a higher net profit of RM457.23 million in the financial year ended July 31, 2021 (FY2021), against RM390.11 million achieved in FY2020 amidst higher contribution from the property segment.
Revenue rose 3.9 per cent year-on-year (y-o-y) to RM3.66 billion from RM3.52 billion previously, the group said in a filing with Bursa Malaysia today.
Scientex said its property division’s revenue increased 20.4 per cent y-o-y to RM1.16 billion from RM967.5 million in FY2020, while operating profit improved to RM346.8 million from RM298.4 million previously.
“Despite the disruptions in construction activities as well as delays in obtaining permits and approvals from relevant authorities, the property division had posted a record-breaking revenue, exceeding RM1 billion for the first time in its history.
“The increase in revenue and operating profit were mainly due to higher progress billings, attributable to stable construction progress and strong take-up rates of new project launches in Scientex Tasek Gelugor, Penang, Scientex Kundang Jaya, Selangor, Scientex Durian Tunggal 2, Melaka and Taman Pulai Mutiara, Johor,” it said.
Scientex said its sales and marketing activities remained robust as the group continued to leverage its various and effective digital channels to reach out to target markets.
Meanwhile, packaging revenue slipped to RM2.49 billion in FY2021 from RM2.55 billion in FY2020 despite better sales by the industrial packaging segment, while operating profit increased marginally to RM253.6 million compared with RM251.0 million in the preceding year.
In the fourth quarter of 2021 (Q4 2021), Scientex’s net profit stood at RM142.65 million, compared with RM142.05 million recorded in Q4 2020, while revenue increased to RM970.36 million from RM954.63 million previously.
The group has proposed a final dividend of five sen per share. — Bernama
