Emperor Watch & Jewellery Ltd Proposes Final Dividend for the Year Ended Dec. 31, 2014, Payable on June 17, 2015; Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2014
The company reported audited consolidated earnings results for the year ended December 31, 2014. For the period, the company reported revenue of HKD 5,924,947,000 against HKD 6,624,372,000 a year ago. Profit before taxation was HKD 168,690,000 against HKD 355,830,000 a year ago. Total comprehensive income for the year and attributable to owners of the company was HKD 117,766,000 or 2.0 cents per basic and diluted share against HKD 308,603,000 or 4.2 cents per basic and diluted share a year ago. EBITDA were HKD 233.0 million against HKD 414.7 million a year ago. The decreases of EBITDA were due to an increase in rental expenses. Revenue decreased by 10.6%, due to weak consumption sentiment in relation to continued austerity initiatives and local protest in the second half of 2014. Net profit decreased mainly due to an uprise of rental pressure.