KUALA LUMPUR (June 23): Magni-Tech Industries Bhd’s net profit rose 6.45% to RM30.62 million for the fourth quarter ended April 30, 2021 (4QFY21), from RM28.77 million a year ago, on the back of higher revenue contributed by its garment and packaging segments.
Earnings per share increased to 7.06 sen from 6.63 sen, the group’s bourse filing today showed.
Quarterly revenue grew 12.97% to RM297.54 million, from RM263.38 million in 4QFY20.
On a quarter-on-quarter basis, Magni-Tech’s net profit dropped 37.45% from RM48.95 million in 3QFY21, while revenue fell 19.11% from RM367.82 million.
For FY21 as a whole, net profit rose 4.4% to RM127.17 million from RM121.81 million in FY20. Full-year revenue increased 1.73% to RM1.23 billion, from RM1.21 billion.
The garment maker declared a fourth interim dividend of 2.8 sen per share, to be paid on July 28. This brought full year payout to 11.1 sen, versus 9.43 sen in FY20.
Magni-Tech said its operating environments for FY22 are expected to remain challenging due to negative effects of Covid-19.
The group said it will continue to implement proactive measures to control costs and capital expenditure, as well as to streamline its operations to mitigate the protracted impact on its businesses.
Magni-Tech’s share price closed one sen or 0.42% lower at RM2.37 today, giving the group a market capitalisation of RM1.03 billion.
