KUALA LUMPUR – VS Industry Bhd returned to profitability in its fiscal first quarter ended Oct. 31, reporting about US$6.6 million in net profit, compared with a year-ago loss of roughly US$7.0 million, a swing of about 192% year over year. Operating profit rose 4% to about $11 million, up from roughly $10.6 million.

Managing director Datuk S.Y. Gan said global uncertainty continues to pressure consumer sentiment, though the recent US rate cut may help stabilize demand in coming quarters. Order flow strengthened in the first quarter, with several customer models moving into mass production and additional programs set to follow. The group also secured a new customer with production slated to begin soon.

In the Philippines, utilisation continues to improve as the company adds upstream capabilities to deepen vertical integration. Gan added that VS Industry’s export-driven structure naturally offsets currency swings, with US-dollar inflows helping fund dollar-denominated materials and components.