Gelonghui August 28?First 00244.HK announcementInterim results 2023Consolidated income was about HK $74.4 million, up about 7.6 per cent from a year earlier. The loss attributable to the company's equity holders was about HK $17.5 million, which was about 54.1 per cent lower than in the first half of 2022.The company's equity holders should account for a loss of HK $0.01 per share.
The decrease in loss was mainly due to (I) the gradual recovery of economic activity in Hong Kong and the re-opening of customs clearance with mainland China in the first half of 2023, resulting in an increase of about HK $5.5 million in revenue from the group's department store business in the first half of 2023; (ii) the improvement in gross profit margin from about 55% to about 59%; and (iii) the closure of a store at the end of 2022 and the reduction of depreciation of right-of-use assets by about HK $11 million as a result of rent concessions in department stores.