Emperor Watch & Jewellery Ltd. announced unaudited consolidated earnings results for the six months ended June 30, 2014. For the six months, the company reported revenue was HKD 3,065,974,000 compared to HKD 3,293,731,000 for the same period a year ago. Profit before tax was HKD 125,928,000 compared to HKD 190,313,000 for the same period a year ago.

Profit for the period was HKD 104,654,000 or 1.15 cents per basic and diluted share compared to HKD 156,658,000 or 2.3 cents per basic and diluted share for the same period a year ago. Despite the sluggish demand on luxury consumption, the watch segment was relatively resilient and its revenue decreased slightly by 2.0% to HKD 2,492.5 million compared to HKD 2,544.6 million a year ago, which accounted for 81.3% and 77.3% in 2013 of the Group's revenue and continued to be the key revenue contributor. EBITDA was HKD 155.8 million compared to HKD 219.6 million for the same period a year ago.

The decrease of EBITDA and net profit were owing to the increase in rental expenses. The company maintained a strong cash debt-free position as at 30 June 2014.