Scientexfull-year earnings jump 31pc
KUALA LUMPUR: Scientex Bhd saw profit for full fiscal year ended July 2013 jump 31 per cent to RM110.28 million from RM83.92 million posted in the previous year, thanks to higher margins from consumer packaging sales and a buoyant property market in Johor.
The good results were recorded on the back of higher revenue, which surpassed the RM1 billion mark, at RM1.23 billion from RM881.03 million previously.
In its filing to Bursa Malaysia yesterday, Scientex said its RM50 million investment in five new blown film lines is expected to bump up capacity by 50 per cent.
Once the lines becomes operational next year, the company will be in a better position to derive more cost-savings from bulk purchasing of raw materials.
Scientex has recently obtained BRC certification in the United Kingdom.
This has opened up another new market for its blown film consumer packaging products.
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