Scientex Berhad’s net profit rose 32.7% to RM141.0 million for the second quarter ended 31 January 2024 (2Q24), accompanied by a 11.7% growth in revenue to RM1.1 billion.
The Group’s property division was the primary driver, with revenue increasing 41.3% to RM456.9 million in 2Q24 compared to RM323.3 million in the previous corresponding quarter. The growth was attributed to steady construction progress on all developments across Northern, Central, and Southern Peninsular Malaysia, alongside strong response for new launches in Penang, Kedah, Perak, Melaka, and Johor.
The group said despite global market challenges, the Group’s packaging division performance was largely sustained. Revenue amounted to RM635.8 million compared to RM655.1 million previously, mainly due to lower export demand for consumer packaging. However, other packaging segments for both domestic and export markets remained resilient.
For the six-month period ended 31 January 2024 (1H24), revenue increased 9.5% to RM2.2 billion from RM2.0 billion in the previous corresponding period, while net profit improved 30.6% to RM278.9 million from RM213.5 million previously.
