MAGNI-TECH Industries Bhd declared a special dividend after reporting an 18.74% rise in net profit and a 22% increase in revenue for the second quarter ended October 31, 2024 (Q2 FY2025).

The company announced a special dividend of 20 sen per share, along with a second interim dividend of 3 sen, bringing the total payout for the first half of FY2025 to 28 sen per share, up from 5 sen for the same period in FY2024.

For Q225, the group’s net profit reached RM25.87 million, compared to RM21.79 million in Q224, while revenue increased to RM350.83 million from RM287.6 million.

The higher profit was primarily driven by its garment business, which offset declines in the flexible plastic packaging and corrugated carton segments due to higher raw material costs.

For the first half of FY2025, net profit surged 29.35% to RM70.51 million, while revenue grew 28.83% to RM788.42 million.

The company remains cautiously optimistic about its FY2025 outlook, focusing on cost optimisation through automation and process improvements amid global economic challenges.

Magni-Tech’s shares closed unchanged at RM2.70 today, with a market value of RM1.17 billion. –TMR