L'Occitane net dives 52pc to EUR115m

L'Occitane International (0973) saw a 52.4 percent slump in net profit to EUR115 million (HK$983 million) for the year ended March from a year ago, but proposed a final dividend of EUR0.03129.

The French cosmetics brand reported a 19.8 percent growth in net sales to EUR2.13 billion during the period but operating profit dropped 23 percent to EUR239.1 million from a year ago, mainly due to impairments on two underperforming brands.

Vice-chairman and chief executive Andre Hoffmann said its businesses in China rebounded in April, with its core brand recording nearly triple-digit growth during the month.

In Hong Kong, local apparel retailer Bauhaus International's (0483) net profit fell 67 percent to HK$46 million for the year ended March, with no dividend declared.