Financial News

25th February 2017 - Companies in the news - ViTrox

KUALA LUMPUR (Feb 24): Based on corporate announcements and newsflow today, stocks in focus on Monday (Feb 27) could include: Vitrox Corp Bhd.

Vitrox Corp Bhd saw its net profit in the fourth quarter for the financial year ended Dec 31, 2016 (4QFY16) swell by 104.6% to RM19.06 million from RM9.32 million a year ago mainly on higher revenue during the period under review.

Revenue in 4QFY16 rose 32.6% to RM63.71 million from RM48.06 million in 4QFY15, on increased revenue from its product, the Automated Board Inspection (ABI), which increased by 51% y-o-y.

“The increase was mainly due to higher demand from a wider customer base,” the group said in its filing with Bursa Malaysia.

Net profit for full year FY16 stood at RM64.95 million, up 46.6% from RM44.32 million a year earlier, whereas FY16 revenue rose 46% to RM234.03 million against FY15 revenue of RM160.29 million.

sourced from: The Edge Market