February 13, 2018

Valuetronics posted a strong set of 3QFY18 results with net profit up 35.7% yoy to HK$58.2m due to growth across the consumer electronics and industrial commercial electronics segments. Gross margins were impacted slightly due to a change in sales mix. The company continues to see minor supply chain challenges but this should not impact the group significantly. Maintain HOLD with a lower PE-based target price of S$0.95 by UOB Kay Hian. Share price closed at S$0.925