KUALA LUMPUR: V.S Industry Bhd (VSI), which posted a net profit of RM34.57mil in the fourth quarter ended July 31 (4Q22), said its labour shortages have now been resolved following the arrival of adequate numbers of foreign workers.
“Supply chain and logistics issues, while challenging, are manageable as we have also stocked up on certain raw materials with longer lead time. Order flow from customers remains reasonable at this juncture.
“Barring unforeseen circumstances, the board opines that the financial performance of the group for the coming fiscal year will be satisfactory,” VSI said in the notes accompanying its financial results.
In 4Q22, VSI saw its revenue grow 6.7% to RM1bil from RM941.1mil achieved in the same quarter last year.
Its earnings per share of the quarter stood at 0.90 sen against 1.09 sen previously.
VSI declared a fourth interim dividend of 0.4 sen per ordinary share for the financial year ended July 31 (FY22). The dividend will be paid on Oct 28 to shareholders whose names appear on the company’s record of depositors on Oct 14.
The board is proposing for the shareholders’ approval at the forthcoming annual general meeting, a final dividend of 0.4 sen per ordinary share for FY22. The details of the book closure and payment date will be announced at a later stage.
In FY22, VSI posted a net profit of RM169.74mil, or 4.45 sen, down 30.8% from RM245.35mil, or 6.50 sen posted a year ago while revenue dipped 2.2% to RM3.91bil versus RM4bil last year.
