Latest news with #RM614.8
New Straits Times
11 hours ago
- Business
- New Straits Times
Kenanga IB sees limited impact on Scientex from US tariffs
KUALA LUMPUR: Kenanga Investment Bank Bhd (Kenanga IB) expects only minimal direct impact from the US tariffs threat for Scientex Bhd as the group has a manufacturing plant in the United States, making its exports to the US below five per cent of its total revenue. Kenanga IB said management had guided on a challenging outlook for its plastic packaging segment given global economic and tariffs uncertainties and aggressive competition in the market. "As the price of crude oil has surged more than 10 per cent lately largely due to the latest escalations of geopolitical tensions in the Middle East, we are monitoring any potential increase in resin price," it said in a note today. In a Bursa Malaysia filing yesterday, Scientex recorded a lower net profit of RM123.87 million for the third quarter ended April 30, 2025, compared with RM130.50 million in the same period a year ago. The packaging manufacturer and property developer said lower profit was mainly attributed to lower export sales and foreign exchange losses in the packaging division, which saw its revenue decline by 6.4 per cent to RM614.8 million from RM656.9 million. For its property division, Kenanga IB said sales of its affordable properties should continue to be resilient given encouraging take-up rates from recent launches. The group's unbilled sales stood at RM1.7 billion as of the second quarter of this fiancial year. "In the past one year, we observe continuous demand for affordable houses priced below the RM500,000 mark while we saw rising appetite for housing in the range of RM500,000 to RM1 million signalling improving affordability," it added. The research house maintained Scientex as 'market perform' with a higher target price of RM3.60 from RM3.34 previously. As of 10.53 am, Scientex's share price rose one sen to RM3.35, with 789,00 shares traded on Bursa Malaysia.
New Straits Times
a day ago
- Business
- New Straits Times
Scientex posts lower 3Q net profit of RM123.87mil, declares six sen dividend
KUALA LUMPUR: Scientex Bhd recorded a lower net profit of RM123.87 million for the third quarter (3Q) ended April 30, 2025, compared with RM130.50 million in the same period a year ago. In a Bursa Malaysia filing today, the packaging manufacturer and property developer stated that the drop in profit was mainly attributed to lower export sales and foreign exchange losses in the packaging division, which saw its revenue decline by 6.4 per cent to RM614.8 million from RM656.9 million. "As a result of lower revenue and intense market competition, operating profit dropped to RM34.5 million compared to RM58.4 million in the preceding year's corresponding quarter," Scientex said. However, the company's revenue rose slightly to RM1.11 billion from RM1.108 billion, driven by stronger contributions from its property segment. Earnings per share stood at 7.96 sen, versus 8.41 sen previously. The company declared a single-tier interim dividend of 6 sen per share, payable on July 18, 2025. Its property segment revenue rose 9.9 per cent to RM495.8 million, boosted by higher billings and stronger sales from new launches in the Northern, Central, and Southern regions. "In tandem with the higher revenue recorded, operating profit increased to RM143.0 million compared to RM121.2 million recorded in the preceding year's corresponding quarter," it said. Looking ahead, the company noted ongoing challenges in the packaging sector, including intense competition, inflation, currency volatility, trade tensions, and weak market sentiment. However, it stated that it is focusing on cost control and operational efficiency. "In addition, product development and innovation remain our key focus as we strive to deliver customised, value-added, and sustainable packaging solutions to meet the evolving market demand," the company said. -- BERNAMA
