Alltronics Holdings profit up 7.76% YoY in first half
This, as revenue from electronic product sales increase during the period.
Alltronics Holdings Limited posted a 7.76% increase in profits year-on-year (YoY) to $47.5m in the first half of 2021 from $44.1m in the same period last year supported by the increase in sales of electronic products, according to a disclosure.
Alltronics’ revenue increased 19% YoY to $860.4m during the period from $722.8m in the first six months of 2020, mainly attributable to the increase in sales of electronic products.
Lam Yin Kee, chairman of Alltronics, said the business operations of the group and its associated companies continued to be affected by the pandemic and they expect the “difficult business environment may last for some time.”
“With that being said, the overall performance of the group during the first half of the year has improved when compared to the prior year. We will certainly continue to explore opportunities with other potential customers for new electronic products with the aim to broaden the revenue base and maintain growth momentum, as a result contributing to our shareholders and stakeholders,” Lam said.
Total sales revenue for the electronic products segment rose 19.3% during the first half to $860m from $721m in the same period last year.
Its biodiesel products and energy-efficient gas stoves segment in Hong Kong continue to be affected by the pandemic with revenue of $0.2m, whilst its Energy-saving business segment also posted $0.2m sales revenue for the period as the installation work at retail stores of Suning.com Co., Ltd. stopped last year.
The group said it will “keep alert and remain cautious on its performance” as the uncertainties amidst the pandemic continue and as the trade dispute between the US and China may lead to a negative impact on the economy.