KUALA LUMPUR, July 28 (Bernama) -- Vitrox Corporation Bhd’s net profit improved to RM51.35 million for the second quarter ended June 2022 (Q2) from RM50.64 million in the same quarter a year ago, mainly due to the strengthening of the US dollar.
Revenue, however, declined to RM189.40 million from RM196.19 million previously, mainly contributed by lower sales demand from machine vision system (MVS), but was offset by continuous high demand from automated board inspection (ABI).
For the six-month ended June 30, 2022, the electronics company saw its net profit jump to RM101.38 million from RM81.34 million in the same period last year, attributable to the strengthening of the greenback and favourable product mix.
Revenue, meanwhile, expanded to RM374.67 million from RM326.08 million previously.
“The hike in revenue was largely driven by strong demand from ABI,” it said in a filing with Bursa Malaysia today.
Moving forward, the group is cautiously optimistic about achieving healthy business growth in the second half of 2022 (H2 2022).
However, it said the company had broadened its customer base, specifically from the automotive, telecommunication infrastructure and high-performance computer (HPC) segments.
“The strategy in securing critical parts has also smoothened the supply chain, and the material shortage issue is being resolved towards H2 2022,” it said.
-- BERNAMA
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