Emperor Watch & Jewellery (0887) posted a 116 percent jump in its first-half net profit to HK$186 million amid the economic recovery, and doubled the interim dividend to 76 HK cents per share.
Executive director and chief executive Ricky Ng Koon-keung said the jewelry retailer's business in Hong Kong and Macau has recovered to 70 percent of pre-pandemic levels and in the mainland it has surpassed the 2019 levels. However, Ng found it hard to tell whether the second half will outperform the first six months, as China's recovery has lost its momentum in the last two months.
On the Hong Kong administration's plans to activate the night bazaars, Ng said Emperor welcomes the initiative and might adjust the opening hours if the traffic increases.
Emperor plans to open three to five new outlets in Hong Kong and in tier-one mainland cities for the rest of the year, Ng added.
For the first half, total revenue rose 41.6 percent yearly to HK$2.33 billion. Hong Kong contributed HK$1.15 billion, up by 49.7 percent from one year ago, and the mainland reported HK$712 million, a 64.8 percent surge. The sales of jewelry soared by 86.3 percent to HK$544 million, and the watch segment saw revenue rise 32 percent to HK$1.8 billion.
