Luk Fook Holdings records net profit of $2.05 bn

Luk Fook Holdings (International) (0590) recorded a net profit of HK$2.05 billion, for the year ended March 31, soaring 86 percent year-on-year. 

With a proposed final dividend of HK$1.02 per ordinary share, the annual dividend is HK$1.57.

Total revenue was HK$17.2 billion for the period, up 29 percent, driven by strong demand for gold products, together with effective product differentiation and sales and marketing strategies, boosting sales of fixed price jewellery products . 

Operating profit soared 87.5 percent to HK$2.65 billion.

Luk Fook remains cautiously optimistic about its medium-to-long-term business prospects in Mainland as there are no clear signs of improvement in the Mainland macroeconomic environment, the company stated. It will allocate more resources to actively expand its overseas presence. 

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓