KUALA LUMPUR: Magni-Tech Industries Bhd’s net profit for the third quarter ended Jan 31, 2022, slipped to RM26.68 million from RM48.95 million chalked in the same period a year ago.

       Revenue for the period under review decreased by 15 per cent to RM312.83 million from RM367.82 million a year ago.

       In a filing with Bursa Malaysia today, the company said over 95 per cent of its Vietnam garment workforce has been fully vaccinated with double doses of COVID-19 vaccines, and production capacity at 93 per cent following the suspension of operations/strict lockdown during the 2.5 months ending on Sept 30, 2021.

       "In view of the unpredictable threat of the COVID-19 Omicron variant, the financial performance of the group for the remaining quarter of the financial year (FY) 2022 is expected to be more challenging than that of the equivalent quarter of FY2021,” it added. - Bernama