BOE Varitronix's Profit Drops 15% in H1

MT Newswires Live08-26

BOE Varitronix (HKG:0710) saw a 15% decline in attributable profit for the six months ended June 30 to HK$172.1 million from HK$202.5 million during the year-ago period, an Aug. 22 bourse filing said.

Earnings per share stood at HK$0.218 during the interim period, down from HK$0.257 in the first half of 2023.

Revenue for the liquid crystal display product producer rose by 18% to HK$6.16 billion in the half year from HK$5.21 billion a year prior, mainly due to higher sales of thin film transistor (TFT) products, touch panel display modules, and automotive system products.

The company attributed the lower profit mainly to a decrease in government grants and exchange gains.

Shares of the company closed nearly 7% higher on Monday.

Price (HKD): $4.56, Change: $+0.28, Percent Change: +6.54%

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