Strong demand for circuit board inspection lifts Vitrox Q4 profit

KUALA LUMPUR: Vitrox Corp Bhd said earnings in the fourth quarter climbed 42% higher, driven by higher contribution from its automated board inspection (ABI) business.

“The increase in ABI was mainly due to higher demand from widen customer base,” it said today in a filing with Bursa Malaysia.

Net profit in the three-month ended Dec 31 rose to RM29.4mil, as revenue improved 15% to RM110.6mil. Full year net profit increased 27% to RM105.5mil.

The company said it is “cautiously optimistic” on the business prospect for the financial year ended Dec 31, 2019 (FY19).

“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.

“Besides that, the Group has taken steps to minimise its net monetary assets in order to mitigate the financial impacts arising from currency fluctuation,” it added.