VS Industry achieved a pre-tax profit of RM62.882 million on the back of a turnover of RM927.588 million for the third-quarter ending 30th April 2022 from a pre-tax profit of RM99.616 million on the back of a turnover of RM1.074 billion.
For the 9 months ending 30th April 2022, it achieved a pre-tax profit of RM167.240 million on the back of a turnover of RM2.909 billion from a pre-tax profit of RM273.267 million on the back of a turnover of RM3.061 billion.
In a Bursa filing, it said that for the current quarter under review, the Group recorded a revenue of RM927.6 million, a decrease of RM147.2 million as compared to the previous year corresponding quarter. Profit before tax was lower at RM62.9 million, a decline of RM36.7 million over the same period.
For the nine months period ended 30 April 2022, the Group recorded a lower revenue of RM2,909.7 million as compared to RM3,061.2 million in the preceding year corresponding period. Profit before tax stood at RM167.2 million, which was 38.8% or RM106.0 million lower over the same period.
It said that the performance was affected by lower delivery of orders to key customers during the current quarter due to labour shortage as well as protracted disruption in the global supply chain which affected supply of components.
In a statement from the company, its managing director Datuk S Y Gan said that “On a much brighter note, the Group has recently received a new batch of foreign workers, with more to arrive in the coming months. The additional labour force will boost fulfilment of orders from key customers that have remained robust, including ramping up mass production for a new key customer. Additionally, being an exporter, the weaker RM against USD augurs well for the Group too in general.”
