KUALA LUMPUR: Scientex Packaging (Ayer Keroh) Bhd
is optimistic it will be able to sustain its performance in the current financial year despite the challenging external operating environment.
The plastic packaging manufacturer said it will address its operational efficiency with a focus on waste reduction, machine and labour optimisation.
"Our investment in technology and innovation has enabled us to make good progress in our development of customer centric packaging products, meeting their requirements on functional performance and sustainability.
"Our commitment towards sustainable packaging remains unwavered with our increasing portfolio of fully recyclable packaging solutions as well as packaging solutions which incorporate post-consumer recycled resin content," it said in a stock exchange filing.
In the first quarter of its 2024 financial year (FY24), the group posted a net profit of RM7.71mil, which was down from RM12.28mil a year earlier, bringing earnings per share lower to 2.2 sen from 3.5 sen previously.
The group reported revenue of RM172.97mil during the quarter, as compared to RM213.92mil in the comparative quarter, mainly due to lower demand from its export markets.
Exports contributed RM74.69mil or 43.2% to group revenue while the domestic market contributed the remaining RM98.28mil or 56.8%.
