The packaging manufacturer and leading property developer has started its new financial year on a stable note, with net profit of RM107.2 million in the first quarter ended 31 October 2022 (1Q23) rising 4.2% from RM102.9 million in the previous corresponding quarter.
The better earnings performance could be traced by revenue growth of 11.0% to RM1.0 billion from RM928.2 million previously, on healthy contribution from its packaging and property divisions.
“Scientex is achieving sustainable growth, as we simultaneously generate economic profits
alongside community development and environmental preservation, undergirded by a culture of
innovation,” Mr. Lim Peng Jin, CEO of Scientex Berhad said
“To this end, our packaging division has marked new innovation milestones, as we successfully
commercialized 27 new packaging innovations in the last financial year ended 31 July 2022
(FY22) alone. These include various new innovations for sustainable and fully-recyclable
solutions in collaboration with global brand owners to fulfil rapidly-growing demand,” he emphasized.
“We are contributing to the global push towards a circular economy, and are proud to support brand owners in achieving their environmental and sustainability goals.”
“To date, we have built over 27,000 affordable homes built, with most of them priced below RM300,000 to address the vastly underserved market. We also continue to acquire competitively priced landbanks at strategic locations, as well as enhance our operating
efficiency and industrialised building technologies, to address rising operational costs and
maintain homes affordability,” he concluded.
Riding on firm consumer packaging demand in Southeast Asia and Oceania, the packaging division posted 5.6% revenue growth to RM716.0 million from RM678.1 million previously. It also mitigates lower industrial packaging sales as global customers remained cautious on trade sentiment.
Driven by healthy construction progress for the Group’s affordable property developments across Peninsular Malaysia, as well as strong demand for new affordable homes launches in Tasek Gelugor in Penang, Jasin in Melaka, and Pulai and Kota Tinggi in Johor, the property division posted 25.5% higher revenue of RM313.9 million versus RM250.1 million previously.
