Bullish outlook for VSTECS

KUALA LUMPUR: Vstecs Bhd is optimistic about its fourth quarter (4Q24), driven by the growth potential in the consumer sector and year-end enterprise spending.

For the 3Q24 ended Sept 30, the company’s net profit jumped 53.8% to RM19.6mil, compared with RM12.7mil a year ago, translating into an earnings per share of 5.5 sen, up from 3.6 sen previously.

Revenue surged to RM841.8mil against RM646.4mil a year prior.

For the first nine months, VSTECS posted an increase in net profit to RM49.1mil from RM43.2mil, while revenue rose 8.5% to RM2.08bil from RM1.92bil previously.

The company declared a single-tier interim dividend of 2.8 sen per share for the financial year ending Dec 31, 2024.