Valuetronics : BN2 0% Holdings : BN2 0%, which provides electronics manufacturing services, on Wednesday (May 29) posted an 18.9 per cent increase in net profit for the second half ended Mar 31, 2024.
Net profit for the six-month period stood at HK$77.4 million (S$13.4 million), compared with a net profit of HK$65.1 million posted in the same period last year. The results translate to earnings per share (EPS) of HK$0.188, up from an EPS of S$0.156 in the same period a year ago.
The group’s drop in revenue was partly mitigated by a lower cost of sales and a jump in other income and gains, based on its financial results.
Revenue stood at HK$778.5 million for the half-year period, down 19.1 per cent compared with HK$962.1 million in the previous corresponding period. Both its industrial and commercial electronics segments, as well as consumer electronics segment, recorded revenue declines.
The group attributed the drop to lower demand from its existing customers, offset by revenue contributions from new customers. Its cost of sales, however, was down 21.6 per cent on the year to HK$652.3 million from HK$831.7 million in the same period last year.
For the full-year ended March, net profit was up 29.8 per cent year on year to HK$159.6 million, translating to an EPS of S$0.387. Revenue fell 17.1 per cent to HK$1.7 billion from HK$2 billion in the same period a year earlier.
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The board has proposed a final dividend of HK$0.09 per share and a special dividend of HK$0.08 per share. This brings the total dividend for FY2024 to HK$0.25, implying a dividend payout ratio of 64.3 per cent, the group noted.
Its counter closed 0.8 per cent or S$0.005 lower at S$0.645 on Tuesday.
