KUALA LUMPUR – VS Industry Berhad reported fiscal third quarter revenue of RM 1.07 billion (US$260.9 million), up 112.6% year-over-year.

Net profit for the quarter ended Apr. 30 was RM 73.4 million, compared to a net loss of RM 19.5 million in the same quarter of 2020.

Profit before tax was RM 99.6 million, compared to a loss before tax of RM 26.9 million in the prior year quarter.

Year-to-date revenue was RM 3.06 billion, an increase of 29.7% compared to the same period in 2020.

Net profit for the nine months ended Apr. 30 was RM 203.8 million, over three times the prior year period’s net profit. Profit before tax was RM 273.3 million, up 240.3% year-over-year.

“Moving forward, the demand outlook across our key multinational customers remains healthy and robust, with several new product models coming into production progressively over the coming quarters,” said Datuk SY Gan, VS Industry’s managing director. “Back at home, as an essential services provider critical to the global supply chain, we continue to operate during the current full movement control order effective June 1, 2021, albeit at a reduced capacity, in compliance to the standard operating procedures stipulated by the authorities. We are optimizing the production output based on the allowable resources in place.”

Ed.: RM 1 = US$0.24

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