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Malaysia’s Scientex reports stronger financial results for Q2

by ChemOrbis Editorial Team -
  • 22/03/2016 (16:01)
According to media reports, Malaysia’s Scientex reported stronger financial results for the second quarter of the financial year ended January 31, 2016 owing to better profit margins achieved in both its industrial and consumer packaging products segments. Improved earnings from its subsidiary, Scientex Great Wall (Ipoh) Sdn Bhd, also boosted the company’s financial results for the quarter.

The company’s net profit surged 79.2% on the year to MYR64.6 million ($16.1 million) the second quarter of the financial year compared with MYR36 million ($9 million) in the same period of last year.

The company’s consumer packaging sales grew 47.4% to MYR190.2 million($47.5 million) year over year while industrial packaging sales rose 7% to MYR211.8 million ($53 million) in the second quarter. Scientex reported that exports made up 46.4% of the company’s consumer packaging revenue during the quarter compared with 33.5% a year ago.
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