VTech profit jumps 31pc

Business | Tereza Cai 12 Nov 2019

Consumer electronics designer, manufacturer and distributor VTech (0303) yesterday said its net profit for the six months to September rose 31 percent year-on-year to US$118 million (HK$924.06 million).

It proposed an interim dividend of US$17 cents per ordinary share, the same as the corresponding period last year.

Revenue totaled US$1.12 billion, up 12 percent from a year ago. The group revenue for the 2020 financial year is forecasted to increase, but the growth rate will moderate in the second half as some shipments for the US were brought forward to the first six months in order to avoid the new tariffs.

Meanwhile, Dongfeng Motor (0489) announced it sold 262,500 cars in October, down 1.9 percent from a year ago. Passenger vehicle sales volume fell 3.4 percent from a year ago to 203,400 units, and commercial vehicle sale volume rose 7.8 percent to 37,200 units.

Separately, Sunny Optical (2382) announced last Friday that its handset lens shipments in October rose 0.56 percent month-on-month to 146 million, or up 42 percent from a year ago. Its handset camera modules rose 10.5 percent from September to 53.45 million in October and is up 17.3 percent on a yearly basis.

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