Scientex second top loser after reporting lower Q1 earnings

PETALING JAYA: Scientex Bhd was the second top loser on the local bourse this morning after it posted a 25.9% lower net profit for the first quarter ended Oct 31, 2018.

At 11.43am, Scientex’s share price was lower by 33 sen or 3.61% to RM8.82 with 540,400 shares changing hands.

The company’s net profit fell 25.9% to RM53.67 million from RM72.40 million a year ago mainly due to lower revenue recognised by the property division.

Its revenue rose 9% to RM713.64 million compared with RM655.01 million recorded in the preceding year corresponding quarter contributed

mainly by the manufacturing division.

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