PETALING JAYA: SCGM Bhd’s net profit fell 22.4% to RM6.28mil in the third quarter ended Jan 31 from RM8.1mil a year ago, mainly due to higher deferred tax expenses.

       Its pre-tax profit of RM7.52mil was 5.1% lower than the RM7.92mil recorded in the preceding year’s corresponding quarter.

       “The lower profit before tax was mainly due to increased prices of resin, additives, chemicals and packaging,” the food packaging manufacturer said in the notes accompanying its results.

       Its revenue was 14.1% higher at RM71.3mil in the third quarter from RM62.5mil a year ago, as the reopening of various economic sectors pushed demand for thermo-form food and beverage packaging in Malaysia and its export countries.

       The group declared a third interim dividend of 1.4 sen per share in respect of 2022, which will be paid on April 28, with the ex-date on April 12.

       Combined with the earlier-paid first and second interim dividends in October 2021 and January 2022, the RM9.8mil dividend payout in respect of 2022 year-to-date represents 44% of its nine-month cumulative net profit. In the first nine months to Jan 31, 2022, SCGM posted a net profit of RM22.4mil on a revenue of RM213.16mil.