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SINGAPORE: Mainboard-listed electronics manufacturer Valuetronics said on Tuesday that its third quarter net profit rose 7.8 per cent on-year to HK$13.5 million (about S$2.5 million).
The increase in net earnings was due to higher revenue. Turnover was up 17.6 per cent on-year to HK$291.6 million (about S$53.3 million).
Valuetronics said overall revenue grew as a result of major customers' restocking activities, which began in the previous quarter.
Going forward, it said it is well positioned to take advantage of the global recovery.
However, it warned that China's policy to stem rural to urban migration may result in a tight supply of workforce and could impact its efforts to add new workers.
- CNA/sc
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