Emperor Watch & Jewellery (00887) announced that it is expected to record a net profit of not less than HK$180 million in the six months ending June 30, 2023. The sharp increase of more than 1 times in net profit during this period is mainly due to:
(i) The retail performance in mainland China was excellent, and the resurgence of tourism has brought upscale consumption in Hong Kong and Macau back on track, leading to an increase of more than 40% in total revenue during the period; and (ii) the Group benefited from operating leverage during the period. As the Group has not yet implemented the unaudited interim results for the period, the information contained in this announcement is based only on the information available. The interim results are due to be published in late August 2023.