KUALA LUMPUR (July 26): Automated machine vision inspection system developer ViTrox Corp Bhd posted a 30% increase in net profit to RM27.76 million in its second quarter ended June 30, 2018 from RM21.34 million a year ago.

Earnings per share rose to 5.9 sen, from 4.55 sen previously.

In a bourse filing, ViTrox said the improved bottom line was driven by higher revenues from the Machine Vision System (MVS) and Automated Board Inspection (ABI) segments, the former expanding 60% year-on-year, and the latter 23% over the same period.

Group revenue grew 35% to RM105.02 million from RM77.62 million in 2QFY17.

In the first half, ViTrox’s net profit increased by 20% to RM48.02 million, from RM39.91 million in the previous corresponding period, while revenue grew 24% to RM182.33 million, from RM147.23 million.

The group is optimistic about business prospects for FY18 and will continue to focus on market expansion activities, customer relationship building and product innovation to propel its business further.

In addition, it said it would take steps to minimise its net monetary assets to mitigate the financial impact of currency fluctuations.

ViTrox shed a sen or 0.16% to RM6.32 for a market capitalisation of RM2.96 billion.