Chow Tai Fook Jewellery's (1929) net profit increased by 52.2 percent year on year to HK$9 billion for the year ended March, despite market uncertainties and unprecedented gold price volatility.
The company's full-year dividend payout ratio fell by 14.4 percentage points to 73.4 percent, and declared a dividend of 67 HK cents per share.
Revenue resumed year on year growth of 5.3 percent to HK$94 billion. In Hong Kong and Macau, revenue rose 22 percent, mainly driven by a solid tourism revival and an enhanced retail experience.
Revenue in the mainland saw a steady recovery, rising by 1,9 percent, or 1 percent on a constant exchange rate basis. Performance improved in the second half of the financial year, supported retail business growth and moderated store closures.
During the year, same-store sales in Hong Kong and Macau rose by 16.8 percent, while those in the mainland grew by 6.9 percent. As of March, the company added five stores, bringing the total to 92 in Hong Kong and Macau, while stores in the mainland decreased by 969 to 5,305. Sales in its self-operated stores and POS in higher-tier cities were strong.
The company aims to achieve above-market revenue growth in 2030 while maintaining an over 25 percent return on equity. It plans to expand its luxury-format stores on the mainland from 8 to 50, in parallel with its target to renovate and upgrade its POS portfolio, as well as to double the RSV of its international operations compared to 2026 and achieve an international footprint of over 100 stores.
With the focus on sustainability, the company targets a 50 percent reduction in greenhouse gas emissions by 2030, using the financial year ending in 2024 as the base year.
