News
For the quarter ended Dec. 30, earnings were down 158% from a year ago, and sales fell 42%. The company cited last minute customer changes and technical isues for the downturn.
The Wall Street Journal today reported that the chemicals company, whose 2005 sales were nearly $11.5 billion, was in serious discussions to be bought out for more than $4.3 billion.
PENANG, MALAYSIA -- VS Industry Bhd., a manufacturer of components and electronics assemblies, is expected to
see strong earnings growth for the foreseeable future, a local analyst said today.
VS reported pretax profits fell 11% to RM12.7 million on a 18% drop in sales to
RM155.2 million for the quarter ended Oct. 31. VS reported a pretax profit of RM14.3 million on RM188.2 million in sales last year.
However, said RHB Research, VS Industry, which mainly supplies Asia and Europe, is set to see gains from its major customer, Dyson, a maker of vacuums. Dyson aims to double its sales within three years, the report said.
VS, which has operations in Malaysia and China, is not expected to expand the latter, where plant utilization is about 60%. However, the EBIT of the China plant was 6.3% for the most recent quarter, well above the 3.4% posted in Malaysia, RHB said.
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