SCGM 7247 Share Price

The Group achieved a notably higher pre-tax profit of about RM330.024 million, marking a substantial increase compared to the previous financial year. This impressive growth was primarily a result of the profit gained from the sale of its subsidiary, LSSPI, which occurred in the second quarter of that fiscal year. The Company is taking the necessary steps in identifying and acquiring new suitable businesses/assets in order to regularize the condition of the Company. The Board and management are committed to try to be patient and disciplined so that we invest only when the right opportunity presents itself at the right price.

The Group’s profit before tax decreased by 37.8% to RM6.685 million in 1Q23 compared to profit before tax of RM10.750 million in 4Q22 mainly due to higher cost of raw materials during the current quarter. In line with the lower profit before tax, the Group recorded 41.6% lower net profit of RM4.949 million in 1Q23 versus RM8.468 million in the preceding quarter.

The Group’s profit before tax decreased by 23.8% to RM7.520 million in 3Q22 compared to profit before tax of RM9.872 million in 2Q22 mainly due to lower revenue coupled with increased prices of resin, additives, chemicals and packaging in spite of the upward adjustment of selling price exercise during the current quarter.

The Group’s profit before tax increased marginally by 0.9% to RM9.880 million in 1Q22 compared to profit before tax of RM9.792 million in 4Q21 mainly due to higher raw material costs.

The Group recorded a 23.6% higher profit before tax of RM9.792 million in 4Q21 compared to profit before tax of RM7.921 million in 3Q21, which is in line with higher local sales recorded in 4Q21. Despite the increase in revenue, the Group recorded 6.0% lower net profit of RM7.621 million in 4Q21 versus RM8.104 million in the preceding quarter due to higher income tax expense and deferred tax expense.

For 1Q21, the Group revenue increased to RM57.223 million from RM49.662 million in 4Q20. This was because the Group was able to increase its manpower to 100% from May 2020 onwards under CMCO, compared to 50% manpower during MCO. The Group recorded a PBT of RM8.674 million in 1Q21 compared to PBT of RM5.869 million in 4Q20, which is due to improved sales mix, lower resin costs and lower interest expense.

For 4Q20, the Group revenue decreased 3.8% to RM49.662 million from RM51.636 million in 3Q20. The demand from local and export markets was unfavourably impacted by COVID-19. The Group recorded a profit before tax of RM5.869 million in 4Q20 compared to RM3.638 million in 3Q20, which is attributable to improved sales mix, lower resin costs, higher gain on foreign exchange due to weakening of Ringgit Malaysia against major foreign currencies and lower interest expense.