Vitrox reports lower Q2 profit as demand for test equipment drops

Meanwhile, a strengthening ringgit against the US dollar poses downside earnings risk to net US dollar exporters such as Vitrox.

KUALA LUMPUR: Inspection equipment maker Vitrox Corp Bhd said a drop in demand for its chip testing machines contributed to lower sales and net profit reported in the second quarter ended June 30.

The company, however, is cautiously optimistic about its full year prospects.

"The group will continue to focus on market expansion activities, customer relationship building and product innovation to grow our business further in the new financial year," it said in a filing with Bursa Malaysia today.

Net profit fell 12% to RM24.39mil compared with RM27.76mil made in a same corresponding quarter last year.

Revenue declined 15% to RM89mil.

"The decrease in revenue was mainly because of decline in customer demand by 33% from machine vision system (MVS)," it said.