KUALA LUMPUR: V.S. Industry Bhd swung into the red with net losses of RM3.95 million in the fourth quarter ended July 31, 2011 following a writedown in the assets of its Indonesian subsidiary compared with net profit of RM9.28 million a year ago.
It said on Thursday, Sept 29 that its revenue rose 5.2% to RM262.62 million from RM249.51 million. Loss per share was 2.18 sen compared with earnings per share of 5.18 sen.
V.S. Industry said the losses were mainly due to the write down of net assets of the subsidiary, namely PT. GY PLANTATION [] Indonesia of RM10.6 million, amortisation of cost of employee share option scheme of RM1.9 million, higher share of losses from associates and increased competitiveness in the electronic manufacturing services sector in the current quarter.
For the financial year ended July 31, 2011, earnings rose 14.1% at RM27.72 million compared with RM24.29 million in FY10. Revenue was 28.5% higher at RM1.028 billion compared with RM800.17 million.
On the outlook, it was mindful of the current challenges faced by the global economy and it expected a challenging financial year ahead.
It said on Thursday, Sept 29 that its revenue rose 5.2% to RM262.62 million from RM249.51 million. Loss per share was 2.18 sen compared with earnings per share of 5.18 sen.
V.S. Industry said the losses were mainly due to the write down of net assets of the subsidiary, namely PT. GY PLANTATION [] Indonesia of RM10.6 million, amortisation of cost of employee share option scheme of RM1.9 million, higher share of losses from associates and increased competitiveness in the electronic manufacturing services sector in the current quarter.
For the financial year ended July 31, 2011, earnings rose 14.1% at RM27.72 million compared with RM24.29 million in FY10. Revenue was 28.5% higher at RM1.028 billion compared with RM800.17 million.
On the outlook, it was mindful of the current challenges faced by the global economy and it expected a challenging financial year ahead.
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