Scientex up 3.49% on 4Q earnings, dividend

KUALA LUMPUR (Sept 20): Scientex Bhd shares rose 3.49% in thin trade this morning after its net profit jumped 33.24% to RM72.13 million for the fourth financial quarter ended July 31, 2017 (4QFY17), from RM54.14 million a year ago, thanks to the strong performance of its packaging and property development division.

At 9.25am, Scientex rose 30 sen to RM8.90 with 88,400 shares done.

This is the best ever quarterly performance in its corporate history, said the company today.

Revenue jumped 15.15% to RM646.07 million from RM561.06 million in 4QFY16, on the back of a 20.1% increase in export sales of packaging-related products. This was further supported by the good take up rate of its property projects, as well as strong progress billings across its developments projects, particularly in Taman Pulai Mutiara, Johor.

In line with strong annual earnings, Scientex declared a final single-tier dividend of 10 sen per share, bringing total payout for FY17 to 16 sen per share or RM77.4 million. This is equivalent to 30.2% of the net profit chalked in FY17, Scientex said, which is consistent with its policy to pay out at least 30% of the annual net profit to shareholders. — theedgemarkets.com

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