Luk Fook (00590) said its profit attributable to equity holders for the six months ended 30 September 2015 dropped 42.4% year-on-year to HK$463 million.
Basic and diluted earnings per share were HK$0.79.
The revenue was HK$6,964.9 million, a decrease of 7.7% from a year earlier. Gross profit fell 12.2% to HK$1,579 million. With a higher-than-expected sales mix of gold products which bore relatively lower gross margin, overall gross margin decreased by 1.2 percentage points to 22.7%.
Overall same store sales growth (SSSG) was -11.6% (2014: -41%), while SSSG of gem-set jewellery products in Mainland China achieved 17.5%, representing positive growth for 10 consecutive quarters. SSSG for the Hong Kong and Macau market and the Mainland China market were -12.6% (2014: -40.7%) and +1.2% (2014: -44.1%) respectively.
The proposed interim and special dividend is HK31.5 cents (2014: HK55 cents) and HK23.5 cents (2014: Nil) per share, payable on or around 21 December.
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