NET profit for the first quarter ended Oct 31, 2024 (1QFY2025), stood at RM30.6 million compared with RM48.98 million in the same period a year earlier. Revenue slipped 2.58% to RM1.11 billion from RM1.14 billion in 1Q24. 

VS Industry Bhd’s net profit for the first quarter ended October 31, 2024 (1Q25) dropped 37.53% to RM30.6 million, mainly due to lower sales orders, unfavourable foreign exchange rates, and higher labour costs.

Revenue for the quarter decreased by 2.58% to RM1.11 billion, it said in a bourse filing today.

The group has declared an interim dividend of 0.4 sen per share, payable on December 31, 2024.

Its Malaysian operations saw a net forex loss of RM2.7 million, compared to a gain of RM8.5 million in the previous year, while the Singapore segment experienced a 58.19% decline in profit.

However, the Indonesia segment posted a strong performance, with profit before tax rising to RM5.7 million, driven by robust customer orders.

Compared to the previous quarter, net profit dropped 75.84%, largely due to a one-off non-cash accounting gain in 4QFY2024.

Despite the lower earnings, the company is optimistic about its prospects, with strong sales orders in Malaysia, new model launches, and progress on its Philippines facility. — TMR