KUALA LUMPUR (Dec 6): Scientex Bhd net profit for the first quarter ended Oct 31, 2017 (1QFY18) rose 39.1% to RM72.40 million, from RM52.06 million a year earlier, lifted by better sales from both its manufacturing and property development segments.

In a filing with Bursa Malaysia, Scientex said revenue for the quarter rose 23.2% to RM658.68 million, from RM534.68 million previously.

Earnings per share was 14.97 sen, compared to 11.32 sen a year earlier  (1QFY17).

Scientex declared a final dividend of 10 sen to be paid on Jan 26 next year.

On its prospects in the manufacturing segment, Scientex said it will continue to remain vigilant to external forces and risks such as resin price fluctuations, raw material supply constraints, developments of geo-political nature, as well as fluctuations its foreign currency rates.

“The group will constantly monitor external developments to ensure that the volatility is managed in a prudent and effective manner,” the filing said.

On its property division, Scientex said its focus on affordable housing shall continue to dominate and lead the way to contribute to its sales revenue for the coming financial year.

It said the Melaka Durian Tunggal land consisting of 197.4 acres is slated to feature affordable homes and is expected to be launched in the current financial year.

“The newly-acquired Rawang land, measuring at 65.3 acres, was recently completed at the end of November 2017.

“The group is optimistic that these strategically-located lands are able to meet the pent up demand for good and affordable housing in Rawang and the Klang Valley,” Scientex said.

At midday break, Scientex gained 0.23% or 2 sen to RM8.58, with 34,100 shares done. — theedgemarkets.com

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