Vitrox posts record quarterly sales and net profit

TheStar Thu, Jul 22, 2021 06:53pm - 1 week ago View Original

KUALA LUMPUR: Strong demand for electronics inspection systems helped Vitrox Corp Bhd posted its highest ever quarterly revenue and profits.

Net profit in the second quarter ended June 30 more than doubled to RM50.6mil from RM22.9mil a year ago.

Revenue jumped to RM196.2mil compared with RM96.5mil previously, the company said in a filing today.

"The increase is attributable to the surge in sales volume contributed from both Machine Vision System (MVS) and Automated Board Inspection (ABI)," it said.

The group is "optimistic" about its business prospect in 2021.

"In the next 6 months, the Group will continue to focus on capacity expansion, aggressive material sourcing and securing, supply chain collaboration, key markets expansion, new product innovation, and Covid-19 risk mitigation to support the robust demand from various sectors, especially in 5G, Electric Vehicles, Computing and Artificial Intelligence," it said.

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