: 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 to higher tax expense and higher foreign currency translation differences for foreign operations.
For the full year period , its net profit fell 29.9% to RM115.86 million from RM165.39 million mainly due to losses of RM26.9 million incurred during the temporary closure of factories following the movement control order that was imposed in the preceding quarter, in addition to lower orders from a key customer.
A second interim dividend of 0.8 sen per share was declared yesterday for FY20 and will be paid on Oct 30, 2020. The total dividend per share for the current financial year is 2.6 sen . “On a positive note, however, despite the challenging situation, the group managed to clinch another new customer from the US in August 2020 to produce cordless electrostatic sprayers on box-build assembly basis. The addition of this new customer is a further testament to the group’s capability and track record,” VS said.