Scientex's performance is very impressive! Profit and net income reached RM1.11 billion and RM131 million, respectively. Compared to the same period last year, Scientex's profit and net income increased by 2.3% and 28.6%, respectively. The growth in profit and net income is mainly attributed to the property division.
In the latest quarter, the revenue of the packaging business was RM635.8mil, a decrease of RM19.3mil compared to the same period last year. The main reason is the weak market consumption, which has led to a weakened demand for the packaging export market. In addition, the performance of the industrial sector is very impressive. The revenue of the industrial business was RM456.9mil, an increase of 41.3% compared to the same period last year. The management also revealed that their affordable houses launched in Sungai Dua (Penang), Sungai Petani (Kedah), Ipoh (Perak), Jasin (Melaka), and Pulai (Johor) have received enthusiastic responses.
The management revealed that the demand in the packaging industry will increase in the next quarter's financial report (expected at the end of June). They are currently committed to reducing operating costs and reducing production waste to maintain product competitiveness. They will also start installing solar photovoltaic systems and plan to implement them in all local factories in the long term. As for the industrial sector, the management...