KUALA LUMPUR: Scientex Packaging (Ayer Keroh) Bhd
said it is committed to enhancing its competitiveness and capitalising on new growth opportunities to deliver a sustainable performance in the upcoming financial year.
In a filing with Bursa Malaysia, the group posted a net profit of RM6.81mil in the fourth quarter ended July 31, 2024, which was a notable increase from a net profit of RM149,000 in the same quarter in the previous year.
However, this was owing to the goodwill impairment of RM22.71mil related to its Myanmar operations during the year-ago quarter.
"Excluding the impact of the goodwill impairment in the preceding year corresponding quarter, the current quarter's operating profit decreased by 34% mainly due to heightened market competition, increase in freight costs and changes in the product mix," said the group.
During the current quarter, the group's earnings per share rose to 1.94 sen from 0.04 sen previously.
Revenue, meanwhile, was slightly lower at RM181.84mil compared to RM185.32mil in the year-ago quarter.
For the full-year period July 31, the group recorded a net profit of RM32.55mil as compared to RM35.94mil in the previous year, while revenue was RM713.51mil compared to RM774.78mil in FY23.
The group declared a final dividend of five sen per share, going ex on Jan 5, 2025, and payable on Jan 14, 2025, bringing the full-year payout to 7.5 sen a share.
