SINGAPORE (Feb 9): Electronics manufacturer Valuetronics Holdings powered to earnings of HK$58.2 million ($9.8 million) for the 3Q ended December, up 35.7% from HK$42.9 million a year ago.
3Q18 revenue grew 34.2% to HK$788.3 million on the back of revenue growth across all segments, from HK$587.6 million a year ago.
Revenue from the group’s Consumer Electronics (CE) segment surged 48.1% to HK$401.1 million in 3Q18, mainly due to increased demand for consumer lifestyle products and smart LED lighting products with Internet of Things (IoT) features.
Revenue from its Industrial & Commercial Electronics (ICE) segment rose 22.3% to HK$387.2 million, largely attributable to the increase in demand from some ICE customers such as printers and in-car connectivity modules used in the automotive industry.
As at end December, cash and cash equivalents stood at HK$640.4 million.
“Despite uncertainties in the global economic environment, we have stayed focused and delivered double digit growth in revenue, gross profit and net profit for the third quarter and nine months of our financial year,” says Ricky Tse Chong Hing, chairman and managing director of Valuetronics.
“We continue to actively support our existing customers’ product development roadmaps, while simultaneously developing new customers who can benefit from our technical service, expertise and experience,” he adds.
Shares of Valuetronics closed 1 cent higher at 95 cents on Thursday.
