Vitrox sees double-digit sales growth

GEORGE TOWN: Vitrox Corp Bhd has locked in about RM100mil of sales orders for a period of not more than six months of 2014.

Group chief executive officer Chu Jenn Weng said after the company’s AGM that the figure would improve further at the end of June.

“For the whole of 2013, the sales locked in was only RM106mil.

“For this reason, we can expect the group to register double-digit growth in sales this year compared to 2013,” Chu added.

Chu said most of the orders were for the group’s automated board inspection (ABI) and machine vision system (MVS).

“The key customers are from Malaysia, Taiwan, China, North America and South America,” he said.

Chu said the group’s book-to-bill ratio for May was 1.31.

“This means that for every dollar we billed, we received US$1.31 (RM4.22) of orders,” Chu explained.

Moving ahead, Vitrox will focus on an Asian expansion strategy that includes penetrating the markets of China, Taiwan, Japan, South Korea, Vietnam and the Philippines.

Chu said the group would strengthen its presence in North America and South America through its direct sales force and strategic sales channel partners.

“We aim to expand our global market share in the ABI and MVS segments, serving the back-end semi-conductor assembly and packaging industry as well as the electronics manufacturing and contract manufacturing industry,” Chu said.

He said Vitrox would invest RM15mil-RM20mil this year in research and development activities to develop new machine vision potential applications for the manufacturing sector.

In 2013, the ABI business generated about 60% of group revenue, while MVS and the electronic communication system contributed 35% and 5%, respectively.

For its 2014 first quarter ended March 31, the group posted RM3.99mil in net profit on the back of RM22.83mil turnover, compared to RM458,000 and RM12.93mil respectively achieved in the previous corresponding period.

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