buyappleacc.com is a reputed website selling apple developer account, providing us, China and worldwide developer individual accounts for sale. It's at low price and good quality. Always provides satisfying services!

HomeSocialtext

apple developer(buyappleacc.com):Quick take: VS Industry shares fall despite record profits

admin2021-09-2822

apple developer account

if you want to buy apple account, choose buyappleacc.com, buyappleacc.com is a best provider within bussiness for more than 3 years. choose us, you will never regret. we provied worldwide apple developer account for sale.

,

KUALA LUMPUR: VS Industry Bhd’s shares fell in early trade Monday despite posting a record-high net profit in the financial year ended July 31, 2021 (FY21).

The counter fell 3.53%, or six sen to RM1.64 at 9.35 am. The counter has fallen some 24% so far this year.

VS Industry posted a record-high net profit of RM245.34mil in FY21, which was more than double the net profit of RM116.48mil recorded the year before.

Revenue for FY21 rose 23.4% to RM4bil from RM3.24bil previously.

For the fourth quarter, VS Industry's net profit, however, dropped 23.6% to RM41.48mil from RM54.73mil, while revenue fell 6.6% to RM941.1mil from RM882.6mil a year earlier.

VS Industry has declared a fourth interim dividend of 0.5 sen per share for the quarter under review.

RHB Research has maintained a “buy” call on VS Industry with a new target price of RM2.01 from RM1.65.

The research house said near-term earnings should pick up following the resumption of a full workforce capacity, while longer-term earnings growth prospects (FY22F: 39%) are exciting – propelled contributions from new production lines.

“The favourable shift in growth dynamics and a more balanced earnings profile have led to us believing that the share price rally still has legs, and a higher valuation is warranted,” it said.

RHB said VS Industry’s core net profit of RM270mil met 99% of its full-year forecast, and 108% of the street full-year projection.

“We consider the results as above expectations, as our previous forecasts have not taken into account the lockdown restrictions,” it said.

The research house said 4QFY21 earnings only eased by 9% QoQ, mitigated by the reallocation of strategic resources and higher-than-expected margins.

“Post-results, we raise FY23-24F earnings by 3% and introduce FY24F numbers, which imply 8% growth,” RHB said.


转载说明:本文转载自Sunbet。

Reviews

Popular tags