Gross profit margin improved by 2.9 percentage points to 15.9% due to the easing of component shortages, the stabilisation of the costs of material and the depreciation of the Chinese renminbi (RMB).
Valuetronics has reported earnings of HK$159.6 million ($27.6 million) for the FY2024 ended March 31, 29.8% higher y-o-y. The higher earnings were attributed to improved margins and higher interest income.
While total revenue fell by 17.1% y-o-y to HK$1.67 billion as both segments – industrial & consumer electronics (ICE) and consumer electronics (CE) – fell on a y-o-y basis, gross profit was up by 1.3% y-o-y to HK$265.2 million.
