Valuetronics posts 1.1% drop in Q1 earnings

Singapore

ELECTRONICS manufacturing services provider Valuetronics Holdings on Friday reported a 1.1 per cent year-on-year dip in net profit to HK$33.48 million (S$6.1 million) for the first quarter ended June 30.

Revenue in Q1 FY2016 fell 12.2 per cent to HK$550.04 million due to lower revenue from its consumer electronics business segment, which declined 27 per cent to HK$280.2 million as a result of slowing demand in the LED lighting business.