VTECH HOLDINGS Group (00303) announced its interim financial results, with a 6.6% year-on-year decrease in net profit attributable to shareholders to US$87.4 million. Dividend per share is 17 cents.

VTech Holdings Group (00303) announced its interim performance for the six months ending September 30, 2024, with revenue of approximately $10.897 billion, a decrease of 4.5% compared to the same period last year. The gross profit margin improved from 28.5% to 31.5%, and the net profit attributable to shareholders of the company decreased by 6.6% to $87.4 million, with earnings per share of 34.6 cents. The interim dividend per ordinary share is 17.0 cents. The announcement stated that the decrease in revenue was mainly due to reduced revenue in North America, Europe, and the Asia-Pacific region, offsetting the increase in sales in other regions. Despite the improvement in gross profit, the decline in net profit was mainly due to the decrease in revenue, as well as the increase in operating expenses due to the integration of assets from GST Communications GmbH.