Scientex Q4 earnings rose 29.4% to RM30.3mil - Business ...
KUALA LUMPUR: Packaging manufacturer and property developer Scientex Bhd 's fourth quarter earnings for the financial year ended July 31, 2013 rose 29.4% to RM30.267mil, from RM23.389mil in the corresponding period last year. This was achieved on improved revenues of RM371.
243mil, up 64.
25% from RM226.
014.
Earnings per share came in at 13.
83 sen against 10.
88 previously.
For the full year, earnings per share was 51.04 sen compared to 39.02 last year. The company declared a dividend of 19 sen per share, which amounts to a total payout of RM42mil. Total dividend for the full year is 26 sen or RM57.
5mil.
Scientex's earnings for the full year surged 31.4% to RM110.3mil from RM83.9mil as revenues breached the RM1bil mark at RM1.229bil against RM881mil previously. This was an improvement of 39.5% in revenues. The company's manufacturing business recorded revenues of RM918.
8mil, or 74.
8% of total group revenue of RM1.
2bil.
This was 44.
4% higher than FY12, due mainly to higher sales volume of stretch film as well as seven-month contribution from the recently-acquired businesses of the two Great Wall companies. Operating profit for manufacturing grew 59.3% to reach RM56.9mil from RM35.7mil previously, helped by contributions from the higher-margin consumer packaging division.
The property development business also continued to thrive, with revenue improving 26.9% to RM310.2mil in FY13 as take-up for the its projects in strategic locations, such as Skudai within Iskandar Malaysia, continue to improve on the back of burgeoning demand. This translated to operating profit increasing 37.
3% to RM98.
7mil, from RM71.
9mil a year ago, attributable not only to increased revenue but also a favourable product mix with higher-end niche developments. "We have set in motion growth strategies to invest in both new production capacity as well as acquire strategic land bank. Our low net gearing of 0.3 times as at July 31, 2013 certainly allows us the financial dexterity to support these plans," said managing director Lim Peng Jin.
"In our manufacturing business, we will see the completion of a RM55mil expansion in our stretch film production facility by end-2013, boosting production by 26% to 194,000 metric tonnes per annum from 154,000 MT p.a. currently. This would effectively accord Scientex a place amongst the top three largest stretch film producers in the world. "We have also recently committed to invest RM50mil to purchase five blown film lines to grow our consumer packaging division, which continues to experience strong demand among our regional clientele.
The new lines are scheduled to be operational by mid-2014, boosting production by 50.0% to 51,000 MT p.a. from the current 34,000 MT p.a.," said Lim. Meanwhile, Scientex also announced its intention to begin new development projects totalling approximately RM600mil in gross development value (GDV), adding film
243mil, up 64.
25% from RM226.
014.
Earnings per share came in at 13.
83 sen against 10.
88 previously.
For the full year, earnings per share was 51.04 sen compared to 39.02 last year. The company declared a dividend of 19 sen per share, which amounts to a total payout of RM42mil. Total dividend for the full year is 26 sen or RM57.
5mil.
Scientex's earnings for the full year surged 31.4% to RM110.3mil from RM83.9mil as revenues breached the RM1bil mark at RM1.229bil against RM881mil previously. This was an improvement of 39.5% in revenues. The company's manufacturing business recorded revenues of RM918.
8mil, or 74.
8% of total group revenue of RM1.
2bil.
This was 44.
4% higher than FY12, due mainly to higher sales volume of stretch film as well as seven-month contribution from the recently-acquired businesses of the two Great Wall companies. Operating profit for manufacturing grew 59.3% to reach RM56.9mil from RM35.7mil previously, helped by contributions from the higher-margin consumer packaging division.
The property development business also continued to thrive, with revenue improving 26.9% to RM310.2mil in FY13 as take-up for the its projects in strategic locations, such as Skudai within Iskandar Malaysia, continue to improve on the back of burgeoning demand. This translated to operating profit increasing 37.
3% to RM98.
7mil, from RM71.
9mil a year ago, attributable not only to increased revenue but also a favourable product mix with higher-end niche developments. "We have set in motion growth strategies to invest in both new production capacity as well as acquire strategic land bank. Our low net gearing of 0.3 times as at July 31, 2013 certainly allows us the financial dexterity to support these plans," said managing director Lim Peng Jin.
"In our manufacturing business, we will see the completion of a RM55mil expansion in our stretch film production facility by end-2013, boosting production by 26% to 194,000 metric tonnes per annum from 154,000 MT p.a. currently. This would effectively accord Scientex a place amongst the top three largest stretch film producers in the world. "We have also recently committed to invest RM50mil to purchase five blown film lines to grow our consumer packaging division, which continues to experience strong demand among our regional clientele.
The new lines are scheduled to be operational by mid-2014, boosting production by 50.0% to 51,000 MT p.a. from the current 34,000 MT p.a.," said Lim. Meanwhile, Scientex also announced its intention to begin new development projects totalling approximately RM600mil in gross development value (GDV), adding film
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