Valuetronics posts 19.3% fall in FY16 earnings

SINGAPORE (May 25): Valuetronics Holdings, the designer and manufacturing partner for the world’s leading brands of consumer and commercial electronics, posted a 19.3% fall in FY16 earnings to HK$120.4 million ($21.4 million).

FY16 revenue fell 19.6% to HK$1.95 billion. Sales from the Consumer Electronics (CE) segment decreased by 44% to HK$824.6 million, mainly due to the decline in sales of LED lighting products.

The decline was however cushioned by an 18% rise in the sales of ICE (Industrial and Commercial Electronics) to HK$1.13 billion from higher demand and contribution from a new customer in automotive industry.

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