[MAGNI-TECH INDUSTRIES BHD，在市场动荡不定的情况下将面临挑战]
Revenue for Q4-FYR 2018 decreased by 26.4% as compared to Q4-FYR 2017. On a segmental basis, garment revenue for Q4-FYR 2018 receded 28.0% mainly due to lower sale orders received and unfavourable foreign exchange movements. Packaging revenue for Q4-FYR 2018 dipped 11.6% mainly due to the cessation of offset printing packaging (OPP) business in Q4-FYR 2017. Revenue of the continuing packaging operations (ie. flexible plastic and corrugated packaging) dropped 3.4% due to lower sale orders received.
Profit before tax ("PBT") for Q4-FYR 2018 decreased by 50.3% as compared to Q4-FYR 2017. Garment PBT for Q4-FYR 2018 declined by 51.3% mainly due to lower revenue, higher foreign exchange loss (by RM3.082 million) and higher operating expenses to revenue ratio. Packaging PBT for Q4-FYR 2018 went down 42.3% mainly due to lower revenue in Q4-FYR 2018 and reversal of provision for OPP
business closure costs (RM0.307 million) in Q4-FYR 2017.
Revenue for FYR 2018 eased 5.3% as compared to FYR 2017. Garment revenue for FYR 2018 fell 4.1% mainly due to lower sale orders received and unfavourable foreign exchange movements. Packaging revenue decreased by 14.9% mainly due to cessation of OPP business. Packaging revenue of the continuing operations edged down 1.0% mainly due to lower order received.
PBT for FYR 2018 was down by 23.0% as compared to FYR 2017. Garment PBT for FYR 2018 dropped 23.7% as compared to FYR 2017 mainly due to the net foreign exchange loss of RM8.370 million for FYR 2018 as opposed to the net foreign exchange gain of RM10.141 million for FYR 2017. Lower garment PBT was also attributable to to lower revenue and higher operating expenses to revenue ratio.
Packaging PBT for FYR 2018 went down 3.8%. Non-recurring OPP business closure costs of RM2.570 million was expended during FYR 2017. Stripping out the business closure costs, packaging PBT for FYR 2018 was lower by 36.2% mainly due to lower revenue, higher material costs and operating expenses incurred.
Revenue for Q4-FYR 2018 fell 29.6% as compared to Q3-FYR 2018. Garment revenue for Q4-FYR 2018 decreased by 32.0% mainly due to lower sale orders received and exacerbated by unfavourable foreign exchange movements. Packaging revenue for Q4-FYR 2018 slipped 4.9% mainly due to lower sale orders received.
PBT for Q4-FYR 2018 dropped 47.8% as compared to Q3-FYR 2018. Garment PBT declined by 50.2% mainly due to lower revenue and higher net loss on foreign exchange by RM1.358 million.
For the forthcoming financial year ending 30 April 2019, they remain cautious in their outlook as the Group's operating environment is expected to be challenging amid volatile market conditions.
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