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KUALA LUMPUR, June 29 (Bernama) -- SCGM Bhd’s net profit for the financial year ended April 30, 2022 (FY22) fell by 8.1 per cent to RM30.87 million against RM33.60 million a year ago largely due to higher deferred tax expenses.
In a filing with Bursa Malaysia, the food packaging manufacturer said its revenue, however, increased by 15.5 per cent to RM284.70 million versus RM246.50 million previously, on the back of improved local and international sales of food and beverage (F&B) packaging due to the rise of online delivery services and consumers’ takeaway culture after the onset of the COVID-19 pandemic.
“The segment posted 18.8 per cent higher sales in FY2022 from RM206.9 million a year ago as consumers shifted their preferences to deliveries and takeaways after the onset of the pandemic,” SCGM said.
For the fourth quarter ended April 30, 2022, SCGM posted a net profit of RM8.47 million against RM7.62 million, while revenue rose to RM71.54 million from RM65.74 million previously.
In a separate statement, managing director Datuk Seri Lee Hock Chai said the FY2022 bottom line was weighed down by the fluctuating raw material prices as a result of supply chain disruptions.
“This happened in spite of our efforts in adjusting selling prices upwards,” he said.
The group declared a fourth interim dividend of 1.32 sen per share in respect of FY2022, which will be paid on July 29, 2022. The ex-date is July 14, 2022.
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