<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 3): Magni-Tech Industries Bhd (KL:<a href="/askedge/klse/7087" class="ce-stock" target="_blank">MAGNI</a>) reported a 36.4% increase in net profit to&nbsp;RM44.64 million for its first quarter ended July 31, 2024 (1QFY2025), from RM32.73 million a year earlier, on the back of a higher revenue across its business segments.</p></div>

<div class=newsTextDataWrapInner><p>This marks the garment and packaging products manufacturer's highest quarterly profit since 3QFY2021.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share rose to 10.3 sen from 7.55 sen in 1QFY2024, Magni-Tech's bourse filing showed.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Quarterly revenue increased 34.9% to RM437.6 million from RM324.38 million.</p></div>

<div class=newsTextDataWrapInner><p>The group has proposed a dividend of five sen per share, payable on Oct 10.</p></div>

<div class=newsTextDataWrapInner><p>The garment manufacturing segment posted a 37.9% increase in revenue to RM416.95 million, up from RM302.3 million in 1QFY2024, primarily due to higher sales orders.</p></div>

<div class=newsTextDataWrapInner><p>However, the packaging segment saw a 6.4% decline in revenue to RM20.65 million from RM22.07 million, reflecting lower sales orders.</p></div>

<div class=newsTextDataWrapInner><p>Magni-Tech said it remains “cautiously optimistic” about its business prospects for FY2025, noting that the global economic outlook remains uncertain but resilient.</p></div>

<div class=newsTextDataWrapInner><p>Magni-Tech’s shares closed two sen or 0.88% higher at RM2.30 on Tuesday, giving the company a market capitalisation of RM996.94 million.<br />
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Magni-Tech Industries Bhd (KL:MAGNI) reported a 36.4% increase in net profit to RM44.64 million for its first quarter ended July 31, 2024 (1QFY2025), from RM32.73 million a year earlier, on the back of a higher revenue across its business segments.

Magni-Tech 1Q net profit rises 36%, declares five sen dividend

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