Valuetronics' 1H earnings fall 12.1% to $15.9 mil on lower revenue

Valuetronics Holdings reported earnings of HK$91.5 million ($15.9million) for the 1HFY2021 ended Sept 30, 12.1% lower than earnings of HK$104.1 million posted in the corresponding period the year before.

This came on the back of a 19.9% decline in 1HFY2021 revenue of HK$1.09 billion from HK$1.37 billion in 1HFY2020 as revenues for the company’s two segments fell.

Revenue for Consumer Electronics fell 35.8% y-o-y to HK$365.1 million due to reduced demand from the Covid-19 pandemic, while revenue for Industrial and Commercial Electronics fell 8.6% y-o-y to HK$729.8 million due to the lower demand from some customers.

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