The group pointed to higher contributions from both its Malaysian and Indonesia segments as a factor for the jump in earnings.
PETALING JAYA: VS Industry Bhd
saw its net profit more than double to RM126.7mil for the quarter ended July 31, as revenue inched up 5.6% year-on-year (y-o-y) to RM1.21bil.
The group pointed to higher contributions from both its Malaysian and Indonesia segments as a factor for the jump in earnings, driven by higher sales orders from key customers following improved consumer sentiment in the former.
At the same time, it reported that a partial disposal of equity interest in VS International Group Ltd, which saw the group’s stake in the latter being diluted to 33.66%, also resulted in a net gain of RM46.7mil.
For the financial year ended July 31, earnings also rose 37.6% y-o-y to RM246.1mil, although turnover was lower by 6.7% to RM4.25bil. It declared a dividend of 1.2 sen per share during the quarter, bringing the total proposed for the year to 2.2 sen per share.
