KUALA LUMPUR -- Net income at electronics manufacturing services provider VS Industry jumped 38.7% year-over-year to RM66.67 million ($16.5 million) in the period ended Oct. 31.

The EMS company's highest quarterly profit came even as revenue dipped 4.6% to RM987.1 million ($243.8 million) due to lower turnover contribution from China operations.

The company cited favorable product sales mix in Malaysia and a more diversified clientele.

Domestic sales accounted for 89% of revenues. The Indonesia and China operations contributed 7% and 4.3%, respectively.

Managing director Datuk S.Y. Gan said the record earnings were amid the backdrop of a taxing operating environment as a result of the Covid-19 pandemic.

“The group has been and will continue to be busy fulfilling customers’ orders in the coming quarters. This includes several new product models that are in the pipeline for launching in 2021 by our customers, ” he said.

Gan added these factors and also two new customers which it secured in August and October, he expected its existing capacity to be filled up by 2021.

“Therefore, we have acquired land and buildings that will enhance our built-up area in Malaysia by 25%, increasing the total floor space to more than two million square feet. This will enable us to cater to the orders from our existing and new customers, ” he said.

• Prev
• Next