Friday 29 Mar 2024
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KUALA LUMPUR (Nov 8): Shares in VSTECS Bhd jumped 12.26% this morning after its net profit grew 7.71% to RM8.26 million or 4.6 sen per share in 3Q from RM7.67 million or 4.3 sen per share in the same period last year, thanks to higher sales, better gross profit, lower finance income and bigger share of profit in joint venture and associate. Quarterly revenue grew 5.36% at RM459.57 million from RM436.21 million due to improved market sentiment.

At 9.26am, VSTECS rose 13 sen to RM1.19 for a market capitalisation of RM214.20 million.

The company declared an interim dividend of 2.5 sen per share for the financial year ended Dec 31, 2019 (FY19), payable on Dec 18.

For the nine months of FY19 (9MFY19), the net profit increased 15.55% to RM18.86 million or 10.5 sen per share from RM16.32 million or 9.1 sen per share last year, while revenue grew 6.24% to RM1.26 billion from RM1.19 billion.

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