KUALA LUMPUR: VS Industry Bhd
remains positive over its outlook and financial performance in the current financial year as sales orders in its Malaysian operations remain strong and on an upward trend.
It said in filing with Bursa Malaysia, the electronics manufacturing services provider said the sales growth was in line with a recovery in demand as well as new model launches from its key customers.
"In addition, we have also secured another two new models from a key customer, which are slated for production commencement in February/March 2025," it added.
Meanwhile, the renovation work for the group's newly established facility under VS Industry Philippines Inc is progressing as planned, with completion expected within two years, the group reported.
Subsequently, the group will commence test runs with two product models that are already confirmed for production.
In the first quarter of its 2025 financial year, VS Industry posted a net profit of RM30.6mil, which was a decline from RM48.98mil in the year-ago quarter.
The group's earnings per share slid to 0.79 sen from 1.27 sen previously.
Its revenue was slightly lower at RM1.11bil as compared to RM1.14bil in the previous corresponding quarter.
VS Industry declared a first interim dividend of 0.4 sen per share, payable on Dec 31, 2024, to shareholders listed on the company's record of depositors on Dec 17, 2024.
