KUALA LUMPUR: SCGM Bhd
’s net profit fell 22.4% to RM6.28mil within the third quarter ended Jan 31 (3Q22), from RM8.1mil a 12 months in the past, primarily as a result of greater deferred tax bills.
Its pre-tax profit RM7.52mil was 5.1% lower than the RM7.92mil recorded within the previous 12 months’s corresponding quarter.
“The lower profit before tax was mainly due to increased prices of resin, additives, chemicals and packaging in spite of the upward adjustment of selling prices exercise during the current quarter,” the meals packaging producer mentioned within the notes accompanying its outcomes.
Its income was 14.1% greater at RM71.3mil in 3Q22 from RM62.5mil a 12 months in the past, because the reopening of numerous financial sectors pushed demand for thermo-form meals and beverage (F&B) packaging in Malaysia and its export international locations.
The group declared the third interim dividend of 1.4 sen per share in respect of FY22, which shall be paid on April 28, with an ex-date on April 12.
Combined with the earlier-paid first and second interim dividends paid in October 2021 and January 2022, the RM9.8mil dividend payout in respect of FY22 year-to-date represents 44% of 9M FY22 net profit.
In the primary 9 months to Jan 31, 2022, SCGM posted a net profit of RM22.4mil on income of RM213.16mil.
“We welcome Malaysia’s advancement into the endemic phase from 1 April 2022 onwards to revive the local hospitality and tourism industry, and anticipate a boost in demand for our packaging products to support the reopening of various sectors,” managing director Datuk Seri Lee Hock Chai mentioned in an announcement.
“At the same time, the resumption of overseas travel will allow us to strengthen relationships with existing customers via physical visits and source for new customers by participating in international trade exhibitions.
“We endeavour to balance the fluctuations of input costs with production utilisation rates and selling prices, as part of efforts to continue enlarging our revenue base and expanding our market share,” he mentioned.
