VSI Reports Small Q3 Revenue Increase
SENAI, MALAYSIA – VS Industry Berhad reported a slight increase in third quarter revenue to MY1.01 billion ($214.4 million) from MYR996.8 million ($211.5 million) in revenue during the same period last year.
For the first nine months of the year, revenue declined 11% percent to RM3.06 billion ($649.4 million).
The company has experienced a pickup in sales orders from key customers following improved consumer sentiments and normalization of inventory levels, said managing director Datuk SY Gan.
"In addition, launches of several new product models by certain customers serve to sustain market interests as well. Overall, we anticipate this progressive uptrend to prevail in the near foreseeable future," he said in a statement. "On another positive note, with the recent successful development of several new processes in-house, we have strengthened our vertical integration capability. Mass production for our key customers has already started for some of these processes."
