Gelonghui November 27|Mercedes-Benz International (01705.HK) announced that the interim results for the six months ended September 30, 2023 had earnings of HK$258 million, up 9.8% year on year; the Group recorded net profit of approximately HK$17.8 million for the six months ended September 30, 2023. Excluding the wage subsidy received from the Hong Kong government for the six months ending September 30, 2022, the Group actually recorded an increase in net profit of about HK$6.6 million compared with the same period in 2022. The board of directors has resolved to declare an interim dividend of HK2.5 cents per share for the six months ended September 30, 2023, that is, the dividend rate for profits attributable to company owners is approximately 58.1% (for the six months ended September 30, 2022:49.3%).
Looking ahead to the opportunities and challenges that the Group may face in the second half of the financial year, the Group will continue to adhere to the procurement of high-quality products and multi-brand development strategies. As far as the retail business is concerned, the company has prepared a number of sales and marketing initiatives to capture consumer spending driven by Hong Kong's economic recovery. The Group plans to consolidate the leading market position of the Tianren Tea business and expand the casual catering business through brand building, customer experience improvement, product innovation, digitalization and automation.
On the other hand, the Group is actively reviewing leasing agreements with landlords to optimize the company's future cost structure and business model. At the same time, the company will take strong action to control operating costs (including manpower, rent and other operating expenses) and further promote efficiency. As far as distribution is concerned, the Group plans to expand its brand and product portfolio to maintain market competitiveness and ensure that customers have more choices.
The Group will focus on finding overseas brands and products that suit the tastes and preferences of Hong Kong consumers to seize market opportunities.