KUALA LUMPUR: Scientex Bhd saw a decline in share price in early morning trade following a disappointing first quarter earnings result.At 9.29am, the stock was 58 sen or 6.3% lower at RM8.57 on the back of 122,000 shares traded.Sceintex posted 25.9% lower net profit of RM53.67mil for the quarter ended Oct 31, as compared to RM72.4mil from a year earlier due to lower revenue from its property business.The group attributed the weaker performance to timing differences in recognising progress billings from its development projects.Kenanga research said in its research report today that it expects Scientex's property recognitions to pick up in coming quarter.The research house maintained market perform on the counter with a target price of RM8.50.

Source: The Star December 31, 2018 01:30 UTC