V S Industry 3Q showing deteriorates
PETALING JAYA: V S Industry Bhd (VSI) remains positive on its long-term outlook despite external headwinds, supported by a resilient customer base, strong vertical integration capabilities, solid financial fundamentals, and prudent cost and risk management.
In the third quarter ended April 30, the electronics manufacturing services or EMS provider's net profit fell more than half to RM23.8mil, or 0.62 sen per share, compared with RM54.4mil, or 1.43 sen, in the same quarter a year ago.
Revenue for the quarter fell to RM909.4mil against RM1.01bil previously. VSI said its top and bottom-line performance was impacted by lower sales orders and higher operating expenses.
In the nine months to April 30, VSI posted a net profit of RM69.7mil, down 41.6% from RM119.4mil, while revenue fell 3.5% to RM2.93bil versus RM3.03bil last year.
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