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SCGM 2Q16 Earnings Jump 58%
Malaysia Daily Bulletin | 10 December 2015
By:
  • Thermo-vacuum form and vacuum plastic packaging manufacturer SCGM posted a 57.7 percent increase in 2Q16 net profit to RM4.8 million helped by favourable product mix, lower fuel cost and strengthening of US dollar against the Malaysian ringgit.
  • Turnover in the quarter rose 30.6 percent to RM34.1 million boosted by the sale of new products, plastic trays and plastic cups.
  • For the six-month period, top and bottom lines gained 19.4 percent and 47.1 percent to RM63.8 million and RM9.7 million respectively. The firm has proposed a second interim dividend of RM0.03 per share.

Significance: Looking ahead, the group opined that its performance will be stable over the remaining quarters of FY16, and believes its new product will help drive sales. Additionally, the firm also said it intends to invest RM15 million over two years to increase its production capacity by 34 percent, funded by proceeds from its recent private placement.


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