Chow Tai Fook Jewellery Group Announces FY2023 Interim Results - Seite 3

Supported by favourable store opening momentum in the Mainland and strength in gold jewellery and products, the Group's revenue increased 5.3% to HK$46,535 million in 1HFY2023 (1HFY2022: HK$44,186 million). Gross profit rose 1.6% to HK$10,962 million (1HFY2022: HK$10,794 million). Adjusted gross profit margin declined to 22.4% from 23.5% in the same period last year, mainly attributable to a higher share of our wholesale business and gold jewellery and products. As a result, core operating profit declined 2.7% year-on-year.

Profit attributable to shareholders of the Company decreased 6.8% to HK$3,336 million (1HFY2022: HK$3,581 million), mainly due to a net foreign exchange loss arising from the weakening of RMB. Earnings per share was reported at HK$0.33 (1HFY2022: HK$0.36). The Board has declared an interim dividend of HK$0.22 per share in 1HFY2023, representing a payout ratio of approximately 66.0% (1HFY2022: 61.4%).

Dr. Henry Cheng, Chow Tai Fook Jewellery Group Chairman, said:"As the world continues to evolve in rapid and unpredictable ways, Chow Tai Fook has demonstrated its resilience in managing risks while seeking new opportunities. Leveraging our extensive operational experience, data analytics and accurate judgment, the Group is able to exercise flexibility in its strategic approach to sustaining a long-term growth."

Same Store Sales ("SSS") Trend Impacted by Pandemic Measures

Business in the Mainland was significantly impacted by the pandemic in the first quarter of the financial year and SSS was down 7.8% in 1HFY2023. In Hong Kong, SSS experienced solid growth of 15.1% in the period, thanks to stable local demand. SSS in Macau decreased by 31.8%, mainly attributable to tightened pandemic measures that reduced tourist traffic.

Solid Progress in Market Share Gain in the Mainland

The Group is taking a targeted and strategic approach to expansion by opening new stores in locations with high potential to boost our market share. The Group's retail network expanded to 6,948 POS as at 30 September 2022, with a net addition of 933 CHOW TAI FOOK JEWELLERY POS in the Mainland during the period.

In 1HFY2023, we closed a net of 4 POS in Hong Kong, mainly in tourist areas, to enhance operational efficiency. A new POS in Malaysia was opened during the period as we explore opportunities in Southeast Asia.

Differentiated Products with Compelling Stories to Attract Customers

With the rise of Guachao ("national trend"), our CTF．HUÁ Collection, which draws on the traditional heritage of Chinese craftsmanship and culture, is much loved by young consumers in the Mainland. The CTF．HUÁCollection contribution to the gold jewellery and products RSV in the Mainland amounted to 40.7% in 1HFY2023.