3QFY21: Record-high Quarterly Results
Scientex’s 3QFY21 results came in within our expectations with record-high revenue. The outstanding performance was attributed to higher sales volumes and improved sales mix of its manufacturing segment, as well as decent take-up rates and stable progress billings for the property segment. We expect resilient earnings momentum in the coming quarters, buoyed by the swift recovery of the global economy and consumer sentiment. Maintain BUY with a higher target price of RM4.60.