KUALA LUMPUR: Vitrox Corp Bhd, an equipment testing company. is expanding its capacity by 30% this year as strong demand boosted its revenue and earnings in the last quarter ended Dec 31.
Net profit jumped 79% to RM31.9mil as sales swelled to RM159.8mil - its highest ever quarterly revenue.
This was driven by the "tremendous" increase in demand from Machine Vision System (MVS) and Automated Board Inspection (ABI), Vitrox said in a filing with Bursa Malaysia today.
"With a diversified business model, serving many prominent customers in multiple industries and established presence in more than 50 countries, coupled with strong recovery in multiple sectors, especially in 5G, electric vehicle (EV), Computing and AI, the Group has been experiencing robust demand across all business units so far," it said.
But the shortage of certain raw materials has longer material lead time.
The group said its operation team is working vigorously with various parties to resolve the challenge.
"The Group has started expanding the manufacturing capacity by at least 30% in 2021 in order to cope with the robust demand in the next few months while continue to take prudent cost control measures in order to stay competitive and resilient," it said.