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Thursday, June 18, 2015

SCGM earnings double in Q4 on higher overseas sales

ETALING JAYA: Disposable packaging manufacturer SCGM Bhd doubled its net profit to RM5.1mil for the fourth quarter ended April 30 compared to the same quarter a year ago on higher overseas sales.
The company said in a filing with Bursa Malaysia that revenue increased 8.8% to RM25.9mil for the quarter under review.
“The sales performance was commendable, as it was a reasonable increase compared to the previous year’s performance despite a challenging external environment. Aggressive marketing for new customers helped.
“There seems to be an emerging trend whereby developed countries look to the Asean market for lower-cost quality producers to meet their flexible packaging needs,” it said.
SCGM added that input cost such as fuel cost impacting margins had trended downwards in the current quarter due to lower commodity prices. “Foreign exchange gains as a result of a stronger greenback had also impacted export sales,” it said. Earnings per share for the year improved to 19.6 sen from 14.4 sen.
The company posted a 35.8% jump in net profit to RM15.6mil for the full-year compared to the year before.
In a separate announcement, SCGM said it had proposed a first interim dividend of five sen per share.

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