<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 12): Magni-Tech Industries Bhd’s first quarter net profit grew 12.38% to RM22.01 million or 13.53 sen per share, compared with RM19.59 million or 12.04 sen per share a year ago, on higher earnings from its garment business.</p></div>

<div class=newsTextDataWrapInner><p>Total revenue for the quarter ended July 31, 2018 (1QFY19) however, fell 6.8% to RM273.74 million, from RM293.71 million previously.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, Magni-Tech attributed higher earnings from its garment business to a higher foreign exchange gain, lower operating expenses to revenue ratio resulting from productivity improvement, and higher income from investment in money market unit trusts.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group declared a single tier interim dividend of 5 sen per share, payable on Oct 26.</p></div>

<div class=newsTextDataWrapInner><p>Moving forward, Magni-Tech said the manufacturing and sale of garment will still be the group's major revenue contributor.</p></div>

<div class=newsTextDataWrapInner><p>While the group's operating environment for the remaining quarters of the year are expected to be challenging amid persisting global economic uncertainties, Magni-Tech said its garment and packaging businesses are seen to remain profitable during the period.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Magni-Tech closed two sen or 0.43% lower at RM4.68 today, for a market capitalisation of RM761.59 million. Over the past year, the counter fell about 35.18% from RM7.22.</p></div>


KUALA LUMPUR (Sept 12): Magni-Tech Industries Bhd’s first quarter net profit grew 12.38% to RM22.01 million or 13.53 sen per share, compared with RM19.59 million or 12.04 sen per share a year ago, on higher earnings from its garment business.

Total revenue for the quarter ended July 31,...

Magni-Tech 1Q net profit up 12%, declares 5 sen dividend

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Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

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