Global Sourcing Spotlight: How to Evaluate Supplier Capabilities Worldwide
The Knowledge Base: Cultivating Your Brand in the Age of Connection
SMT Perspectives and Prospects: Warren Buffett’s Perpetual Wisdom, Part 2
Valuetronics Posts 3% Net Profit Growth in Q3 FY2019
February 28, 2019 | Valuetronics Holdings LtdEstimated reading time: 1 minute
EMS firm Valuetronics Holdings Ltd has reported a net profit of HK$59.7 million for the three months ended 31 December 2018 (Q3 FY2019), by 2.6% compared to the same period in the previous year.
"In Q3 FY2019, we saw changes to our product mix with CE revenue decreasing, which was partially offset by increasing ICE revenue. This led to a slight increase in our net profit to HK$59.7 million," said Ricky Tse Chong Hing, chairman and managing director of Valuetronics.
The group's revenue decreased by 7.5% from HK$788.3 million for the three months ended 31 December 2017 (Q3 FY2018) to HK$729.6 million in Q3 FY2019.
In Q3 FY2019, the CE segmental revenue decreased by 26.4% year-on-year to HK$295.2 million. The decrease was mainly due to the slowdown in demand of smart LED lighting products.
The ICE segmental revenue grew by 12.2% to HK$434.4 million in Q3FY2019, with the increase attributed to the increase in demand from some ICE customers such as printers and in-car connectivity modules used in the automotive industry.
The Group’s gross profit for Q3 FY2019 increased by 1.8% to HK$115.8 million year-on-year. Gross profit margin increased to 15.9%, up from 14.4% in Q3 FY2018, as a result of the change in product sales mix during the period under review.
The Group’s other income remained stable at HK$5.3 million in Q3 FY2019.
Selling and distribution expenses decreased by 10.2% to HK$10.9 million, mainly due to the decrease in logistics expenses as a result of a lower revenue. Administrative expenses increased by 10.3% to HK$43.7 million, which was mainly due to the increase in staff cost.
As a result of the above, the Group’s net profit in Q3 FY2019 grew by 2.6% year-on-year to HK$59.7 million.
Share on:
Testimonial
"We’re proud to call I-Connect007 a trusted partner. Their innovative approach and industry insight made our podcast collaboration a success by connecting us with the right audience and delivering real results."
Julia McCaffrey - NCAB GroupSuggested Items
Ecolab to Acquire Ovivo’s Electronics Ultra-Pure Water Business
08/15/2025 | EcolabEcolab Inc. has entered into a definitive agreement to acquire Ovivo’s Electronics business, a leading and fast-growing global provider of breakthrough ultra-pure water technologies for semiconductor manufacturing.
Eltek Ltd. Reports Strong Second-Quarter 2025 Results
08/14/2025 | PR NewswireEltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the quarter ended June 30, 2025.
Magnachip Semiconductor Announces YJ Kim to Step Down as CEO; Current Board Chairman Camillo Martino Appointed Interim CEO
08/14/2025 | PR NewswireMagnachip Semiconductor Corporation today announced that YJ Kim has agreed to step down as CEO and as a member of the Board of Directors, effective immediately. Camillo Martino, Chairman of the Board of Directors, has also been appointed Interim Chief Executive Officer, effective immediately.
Amidst U.S. Strategy Shift, Foxconn Sells Lordstown, Ohio Plant for $88 Million
08/07/2025 | I-Connect007 Editorial TeamAs part of a strategic shift in its US operations, Taiwan-based Foxconn (Hon Hai Precision Industry’s) subsidiaries are selling off assets at its Lordstown, Ohio, facility, the company announced on Aug. 4.
Element Solutions Inc Reports Strong Growth in Second Quarter 2025 Financial Results
08/01/2025 | Element Solutions Inc.Element Solutions Inc, a global and diversified specialty chemicals company, today announced its financial results for the three and six months ended June 30, 2025.