Yesterday, V.S. Industry (VSI) released their financial results for their 2nd quarter ended January 2017 (2Q17). The company’s net profit jumped to RM35.5 mil, a 29% increase compared to the same quarter a year ago while its revenue increased 52.4% to RM763.8 mil. According to The Star article (29 March 2017), the jump in the company’s net profit was driven by higher sales orders from VSI’s key clients.

VSI was quoted as saying, “For the current quarter, Malaysia recorded a higher profit before tax (PBT), mainly due to higher sales orders from key clients, including the new box built orders.”
 
“Indonesia saw lower profit before tax (PBT) in the current quarter due to higher operating expenses while China’s PBT was higher for both the current and cumulative quarter due to higher sales orders from a key client, following the production of a new product for the client,” added VSI.
 
VSI, which has a dividend policy of 40% net profit payout, has declared a second interim single dividend of 1.2 sen per share which will be paid out in May 2017.