Scientex Berhad delivered record results for the financial year ended 31 July 2024 (FY2024), with revenue increasing 9.8% to RM4.5 billion, and net profit surging 24.4% to RM545.2 million.

The group said the improved performance was primarily driven by robust demand in the property division, which recorded a 29.7% year-on-year increase in revenue to RM1.9 billion, supported by higher sales, strong take-up rates for its new property launches, and steady construction progress on ongoing projects across Peninsular Malaysia.

The packaging division held steady, contributing to the overall positive results with stable revenue of RM2.6 billion despite facing a challenging global landscape.

In the fourth quarter ended 31 July 2024 (4Q24), revenue grew 9.0% year-on-year to RM1.2 billion, while net profit expanded 18.2% to RM135.9 million. The growth was primarily contributed by the property division, where revenue rose 14.4% to RM517.0 million on the back of steady construction progress and robust demand for new launches in Bandar Jasin, Rawang,
Kundang, Sungai Petani, Tasek Gelugor, and Pulai.

While the packaging division also contributed to the positive results, with revenue up 5.1% to RM651.3 million in 4Q24, driven by growth in sales of industrial packaging products.

Scientex proposed a single tier final dividend of 6 sen per share in respect of FY2024 for shareholders' approval at the forthcoming Annual General Meeting. Together with the 6.0 sen interim dividend paid on 19 July 2024, the estimated total dividend payout amounts to RM186.2 million, representing 34.1% of the Group's net profit in FY2024.