Thursday 28 Mar 2024
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KUALA LUMPUR (June 25): Lower demand in the semiconductor sector weighed on the performance of Vitrox Corp Bhd which posted a 12.41% year-on-year decline in net profit to RM24.4 million in the second quarter ended June.

The Penang-based company which specializes in designing and developing automated vision inspection system and equipment testers for the semiconductor and electronic packaging industries attributed its softer performance to a 33% decline in customer demand for its Machine Vision System.

In a bourse filing, the group said that revenue declined 15% to RM89 million from RM105 million last year. Earnings per share for the quarter declined to 5.18 sen from 5.9 sen in the corresponding quarter last year.

Its cumulative net profit for the six months was flat at RM48.03 million on the back of a nearly 3% dip in revenue to RM177.99 million.

The group said it will continue to focus on market expansion activities, customer relationship building and product innovation to grow its business. “Besides that, the Group has taken steps to minimise its net monetary assets in order to mitigate the financial impact arising from currency fluctuation.”

The counter closed 0.71% or five sen higher at RM7.05, valuing the company at RM3.32 billion. Some 484,600 shares were traded.

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