JOHOR BAHRU: V.S INDUSTRY BHD [] (VSI), an integrated electronic manufacturing services (EMS) provider, posted a net profit of RM6.5 million in its third quarter ended April 30, 2010 (3QFY10) versus a net loss of RM4.2 million a year earlier as it strengthened its recovery with its third consecutive quarterly profit.
Revenue improved 12.8% to RM192.7 million from RM170.8 million previously while pre-tax profit amounted to RM10.8 million versus a loss of RM3.8 million. Basic earnings per share stood at 3.63 sen.
The 3QFY10 net profit represented a 46% jump from RM4.44 million achieved in the preceding quarter ended Jan 31, 2010, while revenue rose 6.4% from RM181.1 million.
In a statement yesterday, VSI said the better performance was largely due to the increased business volume as a result of the economic recovery in the group's end markets.
'Thus far, we have seen the revival of consumer confidence worldwide spurring the demand for consumer electric and electronic products. This translated into higher sales orders from our clientele.
'In addition, we also maintained our production efficiency and reduced our finance costs for the quarter under review,' said its managing director Gan Sem Yam.
For the nine months to April 30, 2010, the group's net profit more than doubled to RM15 million from RM6.6 million previously, due to the group-wide cost containment in areas of operations and financing, despite a flat revenue performance. Revenue fell slightly to RM550.7 million from RM553.2 million, while EPS rose to 8.37 sen from 3.68 sen.
In addition, VSI posted a lower share of losses from associates of RM2.8 million in the period, compared with losses of RM7.8 million previously, alongside the upturn in economic climate in China.
'Going forward, we would not only invest in more marketing activities but also capacity expansion, as we anticipate more demand from existing and potential clientele. We are confident of seeing an outperformance of last year's results,' Gan said.
Revenue improved 12.8% to RM192.7 million from RM170.8 million previously while pre-tax profit amounted to RM10.8 million versus a loss of RM3.8 million. Basic earnings per share stood at 3.63 sen.
The 3QFY10 net profit represented a 46% jump from RM4.44 million achieved in the preceding quarter ended Jan 31, 2010, while revenue rose 6.4% from RM181.1 million.
In a statement yesterday, VSI said the better performance was largely due to the increased business volume as a result of the economic recovery in the group's end markets.
'Thus far, we have seen the revival of consumer confidence worldwide spurring the demand for consumer electric and electronic products. This translated into higher sales orders from our clientele.
'In addition, we also maintained our production efficiency and reduced our finance costs for the quarter under review,' said its managing director Gan Sem Yam.
For the nine months to April 30, 2010, the group's net profit more than doubled to RM15 million from RM6.6 million previously, due to the group-wide cost containment in areas of operations and financing, despite a flat revenue performance. Revenue fell slightly to RM550.7 million from RM553.2 million, while EPS rose to 8.37 sen from 3.68 sen.
In addition, VSI posted a lower share of losses from associates of RM2.8 million in the period, compared with losses of RM7.8 million previously, alongside the upturn in economic climate in China.
'Going forward, we would not only invest in more marketing activities but also capacity expansion, as we anticipate more demand from existing and potential clientele. We are confident of seeing an outperformance of last year's results,' Gan said.
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