Dickson wary as net rockets

Business | Samantha Wong 30 Nov 2018

Fashion distributor Dickson Concepts (0113) posted a 15 times increase in interim net profit to HK$128 million from HK$8.05 million, boosted by luxury goods sales in major markets of Hong Kong and Taiwan.

Chaired by founder Dickson Poon, the group held the distributorship of Polo and Ralph Lauren products in Asia for more than 20 years.

The company will pay a dividend of 8 HK cents for the six months ended September 30.

During the period, earnings per share was 32.9 HK cents, up from 2.1 HK cents a year ago.

Revenue of the Hong Kong-based group climbed 16 percent to HK$1.83 billion from HK$1.58 billion. Hong Kong contributed 78.8 percent. of sales, followed by Taiwan at 16.2 percent, and China at 1.8 percent.

During the six-month period, the group has opened two new stores in Hong Kong and Taiwan, and n ow has 110 stores.

The network comprises 57 stores in Taiwan, 25 in Hong Kong, 15 in mainland China, with the remainder in Singapore, Malaysia and Macau.

Dickson Concept said in a filing to the stock exchange that it is cautious and expects the retail climate in Hong Kong, China and Southeast Asia to be challenging in the second half of the financial year.

This is mainly due to weakness of yuan amid the ongoing Sino-US trade war, severe volatility in the equity markets, increased interest rate and potential weakening of the property market.

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