VS Industry Net Profit Declines To RM30.6 Mln In 1Q FY2025

KUALA LUMPUR, Dec 3 (Bernama) -- VS Industry Bhd, an integrated electronics manufacturing services provider, posted a lower net profit of RM30.6 million in the first quarter ended Oct 31, 2024 (1Q FY2025), as compared with RM48.98 million registered in the same period a year ago.

Revenue for the quarter declined by RM29.5 million to RM1.11 billion from RM1.14 billion previously, primarily due to lower sales orders from existing customers and an unfavourable foreign exchange rate, the company said in a Bursa Malaysia filing today.

On geographical segmentation, VS Industry said revenue in Malaysia remained fairly stable, but profits were impacted by a net foreign exchange loss of RM2.7 million, compared to a gain of RM8.5 million a year earlier.

The Singapore segment, which supports marketing for Malaysia operations, reported a lower pretax profit for the current quarter in line with the decrease in orders delivered, it shared.

"In contrast, the Indonesia segment saw a 49.2 per cent revenue growth to RM111.1 million, driven by strong orders. This translated into a pretax profit of RM5.7 million, reversing a pretax loss of RM1.5 million in the same period last year," the company added.

Looking ahead, the company highlighted its enhanced vertical integration capabilities, positioning it for further collaborations with key customers, and the board expressed optimism about its financial performance for the financial year.

VS Industry declared a first interim dividend of four sen per ordinary share for the financial year ending July 31, 2025. The dividend will be paid on Dec 31, 2024, to shareholders listed on record as of Dec 17, 2024.

-- BERNAMA