Latest news with #RM909.4mil
The Star
2 days ago
- Business
- The Star
V S Industry 3Q showing deteriorates
The company's third-quarter net profit fell more than half to RM23.8mil. 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.
The Star
3 days ago
- Business
- The Star
V.S. Industry quarterly earnings fall 56% to RM23.8mil
KUALA LUMPUR: 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. Managing director Datuk SY Gan said the global business landscape—already burdened by subdued consumer sentiment, inflationary pressures, and geopolitical tensions—faced renewed headwinds and volatility following a series of revised tariff announcements in early April 2025, affecting various trading nations, including Malaysia. He said the announcements resulted in certain customers adjusting their orders in response to the newly imposed tariff measures. The overall order flow situation in Malaysia and Singapore in the near term will be contingent upon the prevailing consumer sentiments and the evolving development surrounding tariff measures, especially upon expiry of the 90-day grace period in early July 2025. 'Despite this, the group remains engaged with our customers on new product development programmes, and continues to pursue opportunities for recovery in the quarters ahead with the anticipated new model launches by some of our customers,' Gan said. In the third quarter ended April 30, the electronics manufacturing services (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 were impacted by lower sales orders from existing customers, higher operating expenses, and unfavourable foreign exchange rates. In the nine months to April 30 (9M25), 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. VSI said its net foreign exchange loss for the nine-month period ended April 30, stood at RM1.3mil, compared to a net gain of RM28.6mil in the same period last year.
