Luk Fook annual profit rises to HK$1.02b

Business | 24 Jun 2021 7:17 pm

Jewelry retailer Luk Fook (0590) said net profit increased by 17.4 percent to HK$1.02 billion for the year ended March.

Revenue fell by 21.1 percent to HK$8.9 billion. The basic earnings per share were HK$1.73.

Luk Fook declared a final dividend of HK$0.50 per share and a special dividend of HK$0.50 per share.

Same-store sales for Hong Kong and Macau slumped by 47.1 percent, while mainland same-store sales fell by 4.7 percent.

But operating profit increased by 7.6 percent to HK$1.24 billion thanks to declining gold price, strengthening yuan, and government subsidies.



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