But gross profit grew 3.8 per cent to HK$430.3 million amid a 0.7 percentage point increase in gross profit margin to 15.2 per cent for FY2019 due to a change in sales mix.
But this was offset by a 14.6 per cent growth in FY2019 revenue from industrial and commercial electronics to HK$1.67 billion, amid strong demand from existing and new customers. Valuetronics said it has been “working closely” with one of its customers to explore manufacturing solutions at a leased site in Vietnam. That customer is expected to qualify this initial setup by the end of June 2019, which will be followed by mass production for shipment from Vietnam to the US market.
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