Friday 29 Mar 2024
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KUALA LUMPUR (May 23): Notion VTec Bhd reported a 40.8% increase in net profit to RM4.44 million or 1.65 sen per share in its second financial quarter ended March 31, 2017 (2QFY17), from RM3.15 million or 1.17 sen per share a year ago, on higher revenue.

Quarterly revenue rose 21% to RM68.49 million, from RM56.59 million in 2QFY16, on improved performance in its automotive sector's operations.

The group also declared a second interim dividend of 0.75 sen and a special tax exempt dividend of 0.75 sen per share for financial year ending Sept 30, 2017, payable on July 7. This brings total dividends for the year to 1.5 sen.

For the first half of its financial year ended March 31, 2017 (1HFY17), Notion VTec reported a net profit of RM10.88 million or 4.05 sen per share, up 73.6% from RM6.27 million or 2.34 sen per share in 1HFY16 .

Revenue for 1HFY17 was 16.1% higher at RM136.57 million, from RM117.65 million a year ago.

In a filing with Bursa Malaysia today, Notion VTec said it is optimistic FY17 will be a turnaround for its revenue and profitability.

Notion VTec shares closed unchanged at RM1.31 today, for a market capitalisation of RM429 million.

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