Valuetronics' Q1 profit jumps 65%

ELECTRONICS manufacturing services provider Valuetronics Holdings reported a near 65 per cent jump in net profit to HK$48.74 million (S$8.49 million) for the first quarter ended June 30 as revenue strengthened.

Revenue was about 46 per cent higher at HK$695.68 million on higher revenue from industrial and commercial electronics, and consumer electronics.

Earnings per share in Q1 rose from 7.1 HK cents (restated) to 11.6 HK cents.

"Like most manufacturers, we are operating in an uncertain macro-economic environment," said Valuetronics. "We remain mindful of the impact on our overall business environment; in particular we are vulnerable to fluctuations to raw material price and lead time in procurement."

Barring unforeseen circumstances, the group is expected to remain profitable for the financial year ending March 31, 2018.