VTECH HOLDINGS (HKG:00303) shares plummeted 13.23% in Friday afternoon trading following the release of its fiscal first-half results, which revealed a significant decline in profit. The electronic learning products and cordless phones manufacturer reported a nearly 15% drop in profit attributable to shareholders, disappointing investors and triggering a sell-off.

According to the company's filing with the Hong Kong Stock Exchange, VTech's profit attributable to shareholders for the six months ended September 30 fell to $74.7 million, down from $87.4 million in the same period last year. The company's revenue also took a hit, declining 9% year-on-year to $991.1 million from $1.09 billion. Earnings per share decreased to $0.295 from $0.346 a year ago, further contributing to investor concerns.

Despite the profit decline, VTech's board maintained its interim dividend at $0.17 per share, payable on December 19 to shareholders of record as of December 10. This decision to keep the dividend steady may provide some reassurance to long-term investors, but it was not enough to offset the negative sentiment surrounding the company's financial performance. The sharp stock price decline reflects growing investor uncertainty about VTech's ability to navigate current market challenges and return to growth in the near term.