KUALA LUMPUR: Garment manufacturer Magni-Tech Industries Bhd posted higher revenue and profits in the third quarter. The group's results were also boosted by increased contribution from its packaging business on increased sales and lower raw material costs. Net profit in the three-month ended Jan 31 jumped 50% to RM48.9mil, or 11.3 sen a share on revenue of RM368mil. It has declared an interim dividend of 4.5 sen a share. "The Group's operating environments for the remaining quarter is expected to remain challenging due to the negative effects of long-drawn Covid-19 pandemic which are expected to be felt for some time to come," Magni-Tech said in a filing with Bursa Malaysia today. "The Group will continue to implement proactive measures to control costs, capital expenditure and streamlined its operations to mitigate the protracted impact of Covid-19 on the Group's businesses," it added.
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