Business

Wednesday November 11, 2009

Notion VTec profit up on improved sales


PETALING JAYA: Notion VTec Bhd charted RM13.03mil in net profit for its fourth quarter ended Sept 30 compared with RM8.88mil in the previous corresponding period.

Revenue jumped to RM54.34mil from RM47.67mil previously.

Earnings per share advanced to 1.85 sen from 1.26 sen previously.

For the year ended Sept 30 (FY09), net profit increased to RM35.97mil from RM32.92mil in FY08 while revenue rose to RM172.56mil from RM146.1mil previously.

Executive chairman Thoo Chow Fah said the fourth-quarter performance was another new profit record for the Notion group. “The SLR camera/lens parts sales improved by 18% and industrial/automotive parts sales also rose significantly by 58% compared with the June quarter while the hard disk drive parts grew 14%,” he said.

Thoo said revenue from all its three business segments further improved due to strong orders. “The auto industry in Europe has been recovering but at a slower pace. Many European auto parts suppliers were badly affected, thus disrupting the important supply chain. Thus, we expect new orders from our auto customers in the coming quarters,” he said.


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