Visdynamics Q3 profit nearly doubles

PETALING JAYA: Visdynamics Holdings Bhd’s net profit almost doubled to RM2.64 million for the third quarter ended July 31, 2018 compared with RM1.34 million in the previous corresponding period, driven by higher sales of machines.
Revenue for the quarter under review soared 47.2% to RM11.03 million from RM7.49 million.
For the first nine months of the year, Visdynamics reported a 20% rise in net profit to RM5.05 million from RM4.21 million on the back of a 24.7% increase in revenue to RM27.82 million from RM22.31 million.
In view of the improved financial performance year-to-date, the group is confident of delivering a better financial performance in the financial year 2018.
The stock slipped 1.6% to close at 60 sen with 715,100 shares changing hands.