Samsonite packs a profit

Business | Jimmy Ding 30 Aug 2018

American luggage company Samsonite International (1910) made a net profit of US$119.8 million (HK$932 million) for the first half, up 19.5 percent year on year.

An interim dividend of 0.077 US cents per share was declared - 13.4 percent up on last year - as sales for six months to June 30 rose 12.9 percent year on year to US$1.85 billion.

But Gome Retail Holdings (0493) had a loss of 457 million yuan (HK$525.3 million) for the six months compared to a profit of 122 million yuan for 2017's corresponding period.

Gome is undergoing an overhaul and felt the weight of borrowing but is confident of progress next year.

No dividend was declared as revenue fell 8.84 percent year on year to 34.7 billion yuan.

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