Notion 2Q net profit dips 11.33% to RM10.76m

  NOTION VTEC BHD [ ] net profit for the second quarter ended March 31, 2011 fell 11.33% to RM10.76 million from RM12.14 million a year earlier due mainly to lower revenue from its camera segment.
   For the six months ended March 31, Notion’s net profit fell to RM24.15 million from RM26.49 million on the back of revenue RM113.91 million 
 
   On its outlook, Notion said the continuing weakening of the US dollar was of concern to exporters and that the decline had not abated.
 
  With fewer HDD makers, the price environment might improve and be more conducive, it said.
It also said while the Japan earthquake was an unexpected calamity and that there were concerns of a prolonged disruption to the supply chain, the recovery process was well underway.
“At the moment we are still are able to sell forward at favourable rates of 3.15 to 3.195 for the next few months so the derivative gains are still substantial. We are balancing our risk to such exposure,” it said.
Notion said it expects better performance in the second half of its financial year as major orders were expected during that period.