KUALA LUMPUR: Industrial packaging and property company Scientex Bhd posted a net profit of RM48.91mil in the fourth quarter ended July 31, 2015, against RM48.84mil a year ago.
It said profit before tax rose 36.3% to RM77mil from RM56.5mil, mainly due to a fair value gain of RM12.6mil.
This gain arose from the revaluation of investment properties and also better margin contributions from the property and manufacturing divisions in the current financial quarter. Scientex’s revenue grew 8.9% to RM452.5mil from RM415.4mil a year ago.
The company said its manufacturing revenue was RM319.9mil, an increase of 7.6% compared to RM297.3mil a year ago. Profit from operations increased from RM15mil to RM24.7mil, in line with an increase in revenue as well as better profit margins.
http://www.starproperty.my/index.php/articles/property-news/scientex-pretax-earnings-up-on-fair-value-gain/
