VSTECS 3Q PAT jumps 54% to RM19 million, declares 2.8 sen dividend

VSTECS Berhad
13 Nov 2024

Newsroom

VSTECS Berhad announced its 3Q FY2024 results achieving record quarterly revenue of RM841.8 million representing a 30% increase compared to the same quarter of last year. Profit after tax rose 54% to RM19 million from RM12 million registered in the previous year’s quarter.

For the nine (9) months ended 30 September 2024 (“9M FY2024”), the Group posted revenue of RM2.1 billion as compared to RM1.9 billion in 9M FY2023. Net profit increased to RM49.1 million versus RM43.2 million in 9M FY2023. As of 30 September 2024, the net cash position stood at RM111.1 million, positioning VSTECS well to pursue organic and inorganic growth opportunities with a solid financial foundation.

The group declared a first interim dividend of 2.8 sen per share, payable on 9 January 2025.

With ongoing opportunities across all segments, VSTECS said it is well-positioned to capitalise on high-growth areas within the technology sector.

Source from https://www.businesstoday.com.my
Mandarin version https://www.sinchew.com.my

ABOUT VSTECS BERHAD

VSTECS Berhad (“VSTECS”) and its subsidiaries are a leading distribution hub for Information & Communications Technology (“ICT”) products, enterprise systems and provides ICT support and technical services in Malaysia. Listed on the Main Market of Bursa Malaysia Securities Berhad, VSTECS is an associate company of VSTECS Holdings (Singapore) Limited, which is in turn held by VSTECS Holdings Limited, a company listed on the Hong Kong Stock Exchange.

VSTECS distributes a comprehensive range of ICT products with over 40 leading principals and a nationwide channel network of more than 3,600 resellers comprising retailers, system integrators and corporate dealers. For more information, please visit www.vstecs.com.my.

For general enquiries, please contact:

Eva Loh
Email: syloh@vstecs.com.my