New World Department Store China (00825) announced interim results for the six months ended December 31, 2023. Earnings...
According to the Zhitong Finance App, New World Department Store China (00825) announced interim results for the six months ended December 31, 2023, with revenue of approximately HK$695 million, a year-on-year decrease of 2.05%; net profit of HK$1,657 million, net loss of approximately HK$166 million for the same period in 2022; and profit of HK$0.001 per share.
By category, the Group's revenue during the period was mainly rental income, accounting for 42.2%; followed by counter sales commission income, accounting for 32.9%; sales of self-operated goods, which accounted for 23.7%; and financial lease interest income as a lessor accounting for 1.2%.
As of December 31, 2023, the group operated 22 department stores and shopping malls in mainland China, covering 12 major locations across China, including Beijing, Shanghai, Chongqing, Wuhan, Nanjing, Tianjin, Changsha, Zhengzhou, Yantai, Shenyang, Lanzhou and Mianyang, with an estimated total floor area of 922,900 square meters. Due to the expiration of the lease agreement, the group reduced one branch to the Wuhan Wuchang store during the review period.