Dickson Concepts sees 38pc profit rise

Dickson Concepts (0113) expects its annual net profit to increase by 38 percent for the year ended March 2024, due to higher sales revenue, continued strict control over operational costs and growth in profit contribution from its investment portfolio.

The Hong Kong-based luxury goods retailer said sales turnover achieved a 12.6 percent growth despite high interest rates and unfavorable market conditions weakening consumer confidence.

The board said the company's financial and net cash positions continue to be strong, enabling it to capitalize on market improvements and new investment opportunities to diversify and broaden its earnings base.

The company's net profit last year was HK$253 million, with earnings per share of 64.1 HK cents.

The annual results for the year ended March 31, 2024 is expected to be released on June 13.