SCIENTEX ... Nov09

Industrial packaging and property developer SCIENTEX reported lower YoY earnings for 4QE Jul 2009 due to a lower revenue.

SCIENTEX's Net Profit for 4QE Jul 2009 was RM14.3m which was 34% lower that the RM22.1m recorded same period a year ago. Revenue was 20% lower at RM134.7m from RM167.6m a year ago.

The Company explained the lower revenue was due to lower sales volume and selling prices for its Manufacturing Division.

4QE Jul 2009 results were, however, an improvement QoQ of 42%. SCIENTEX cited better sales and profit margins in all business divisions for the improvement in 4Q over 3Q.

UNAUDITED FULL FYE JUL 2009 NET PROFIT DOWN 21%
Based on SCIENTEX's Unaudited full FYE Jul 2009 results, earnings was down 21% to RM37.4m from RM47.7m compared with last year. Revenue fell 22.37% to RM509.7m from RM656.6m.

SCIENTEX said that the Operation Profit for FYE Jul 2009 was comparable with the preceding financial year as there was an Exceptional Gain the past year due to the realisation of Negative Goodwill. PBT for the Company came in at RM42.1m for FY09, as compared with RM57.4m in FY08.

OUTLOOK
The Company's Directors expressed confidence in the emerging signs of economic recovery, which contributed to better results in the last two financial quarters. They added that they looked forward to better performance as global business sentiments further improve.