VS Industry 2Q earnings at RM16mil

PETALING JAYA: VS Industry Bhd expects to see an improved performance over the remaining quarters of the year as it makes progress in ongoing discussions with prospective customers.

The electronics manufacturing services provider said it is also seeing a resurgence of orders from key customers, underpinned by normalisation of its inventory levels and improving sentiments.

In the second quarter ended Jan 31, 2024, the company registered a net profit of RM16mil, which was slightly over half the net profit of RM30.36mil in the year-ago quarter.

Consequently, its earnings per share fell to 0.42 sen from 0.79 sen previously.

The group reported revenue of RM895.02mil, down from RM1.15bil in the previous corresponding quarter.