2Q10 net profit down 47% yoy. VSI’s 2QFY07/10 with 2Q10 net profit of RM4.4m (-47.2% yoy) was below our and consensus estimates with 1HFY10 net profit of RM8.5m (-49.9% yoy) accounting for 28.6% and 33.6% of our and consensus full-year estimates respectively. The key variances were: 1) slower-than-expected pick-up in demand; and 2) lowerthan- expected 1H EBIT margin of 5.6% vs. our full-year EBIT margin of
6.5%.
VS Industry Berhad : Disappointing 1HFY10 Results-31/03/2010
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