VS Industry 4Q profit up 4% to RM38m

by TMR

VS Industry Bhd’s net profit for the fourth quarter ended July 31, 2018 (4Q18) increased by 4.43% year-on-year (YoY) due to a 8.7% YoY increase in revenue from its Malaysia business.

In an exchange filing yesterday, VS Industry noted the increase in revenue by the Malaysia segment was mainly due to higher sales orders from key multinational corporation customers, which help offset the decline in revenue from a major US customer.

VS’ earnings improved to RM38.44 million in 4Q18, from RM36.81 million recorded a year ago. Revenue for the three-month period increased marginally to RM1.01 billion from RM983.39 million achieved in 4Q17.

“Overall prospects of the group remain positive underpinned by the anticipated growth in the Malaysia segment,” the company’s filing noted. It added the US-China trade war, shift in consumer sentiments, volatility in foreign exchange rates and changes in regulations may impact the group’s operations.

VS Industry declared a fourth interim dividend of six sen per ordinary share, to be paid on Oct 31, 2018.