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

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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.

 

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