VS Industry in talks to secure new orders

“VSI's 4Q is anticipated to register similar profits based on its current order visibility, also owing to the 4Q being a seasonally stronger quarter for one of its key Malaysian operations customer, Keurig," AmInvest Research says.

KUALA LUMPUR: VS Industry Bhd is in active discussion with existing and new customers to secure orders as the group expand its local production capacity.

For the fourth quarter ended July 31, the company posted a 4.4% growth in net profit to RM38.4mil as revenue increased 2.8% to RM1.01bil. Full year (FY18) earnings was RM150.77mil, the company said in a filing with Bursa Malaysia on Tuesday.

The latest quarterly results were driven by its local operations that offset declines in overseas units.

“Overall prospects of the group remain positive underpinned by the anticipated growth in the Malaysia segment,” it said.

It expects box-built orders from key customers to sustain the group’s performance in the financial year ending July 31, 2019 (FY19).

The company has proposed a final dividend of 0.6 sen a share, to be approved by shareholders at its upcoming AGM.  

Shares in VS Industry jumped 10 sen, or 6.6% to close at RM1.62 before the latest quarterly results were announced. Traders said reports that British-billionaire Sir James Dyson is planning to bring in new investment to Malaysia had boosted sentiment on this stock.