• Malaysia stock market and companies daily report (September 30, 2015)

    - Despite recording a 5.2 percent drop in 4Q15 turnover to RM506.8 million, VS Industry’s earnings for the quarter jumped 44.4 percent to RM52.7 million, underpinned by better sales mix and also a foreign exchange gain of RM24.4 million compared to a loss of RM2.1 million in 4Q14.

    - For the full-year, net profit spiked 147.5 percent to RM132.7 million, on the back of a 12.9 percent rise in revenue to RM1.9 billion. The better performance was attributable to the higher top line as well as better sales mix in the Malaysian operations.

    - Going forward, in spite of the ongoing economic climate, the group intends to continue improving its performance by ably supporting customers, becoming more efficient in production and further developing our research and development capabilities.

    Significance: For the quarter, VS Industry declared a total of RM0.024 per share, which bring full-year dividend to RM0.048 per share, a 105.1 percent increase compared to FY14. Looking ahead, the firm is upbeat on FY16 prospects given continued strong support from the existing customers, new potential customers and the strengthening of US dollar.

    Contributed by Shares Investment
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