The company's third-quarter net profit more than doubled to RM54.42mil.
PETALING JAYA: Electronics manufacturing services provider VS Industry Bhd
anticipates a sustained increase in sales orders, driven by improved consumer sentiment and normalised inventory levels among key customers.
In a filing with Bursa Malaysia, VS Industry said recent developments in its in-house processes have enhanced its vertical integration capabilities, enabling efficient mass production for key clients.
For the third quarter ended April 30, 2024 (3Q24), VS Industry reported a 1.4% increase in revenue to RM1.01bil compared with RM996.78mil in 3Q23.
Net profit more than doubled to RM54.42mil in the quarter under review compared with RM26.77mil in 3Q23, driven by increased orders from key customers and higher production capacity utilisation.
For the first nine months of its financial year 2024 (9M24), VS Industry’s bottom line reached RM119.41mil, up from RM117.84mil in 9M23, despite revenue declining by 11% to RM3.06bil from RM3.44bil.
The group has declared dividend of 40 sen a share for 3Q24, bringing the cumulative dividend for 9M24 to RM1 per share.
