New Straits Times

VS Industry's Q3 earnings drop due to labour shortage

9 days ago

KUALA LUMPUR: VS Industry Bhd recorded a lower net profit in its third quarter (Q3) ended April 30, 2022 (FY22) at RM51.29 million, down 30.1 per cent year-on-year (YoY) from RM73.38 million in the same period last year due to lower delivery of orders affected by labour shortage. Group revenue was down 13.7 per cent YoY to RM927.59 million from RM1.07 billion in Q3 last year. Besides labour shortage, protracted disruption in the global supply chain which affected supply of components also played a role in the lower delivery.