VS Industry posts slight decline in FY20 net profit | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 86%

Business News News

Business Business Latest News,Business Business Headlines

KUALA LUMPUR, Sept 28 — Leading Electronics Manufacturing Services (EMS) provider V.S. Industry Bhd recorded a lower net profit of RM115.9 million for the financial year ended July 31, 2020 (FY20) compared with RM165.4 million in the same period last year. Revenue, however, declined 18.5 per cent...

KUALA LUMPUR, Sept 28 — Leading Electronics Manufacturing Services provider V.S. Industry Bhd recorded a lower net profit of RM115.9 million for the financial year ended July 31, 2020 compared with RM165.4 million in the same period last year.Additionally, for the fourth quarter , the Group posted a net profit of RM54.1 million versus RM56.3 million in the same quarter last year, while revenue decreased to RM882.6 million from 1.04 billion previously.

“We are pleased to deliver a strong recovery in our 4QFY20 performance against the backdrop of a difficult operating environment stemming from the COVID-19 pandemic. Orders from our existing customers are showing a healthy rebound by comparison to the preceding quarter. This certainly bodes well for the Group as a key supplier to Victory, he said, adding that Victory’s addition is yet another testament to the Group’s capability and track record, while the discussions with prospective customers remain ongoing.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

VS Industry Q4 earnings drops to RM54.12mPETALING JAYA: VS Industry Bhd’s net profit for its fourth quarter ended July 31, dropped 3.8% to RM54.12 million from RM56.26 million a year ago due ...
Source: theSundaily - 🏆 25. / 51 Read more »