CAFE DE CORAL H's interim profit fell 28% year-on-year, with a dividend of HKD 0.15 per share
CAFE DE CORAL H announced that its half-year profit for the period ending September fell 28% year-on-year to HKD 140 million, with revenue declining over 1% to HKD 4.26 billion, and gross margin decreasing by 1.8 percentage points to 10.3%. The performance in Hong Kong and mainland China dropped by 23% and nearly 5%, respectively. The group will continue to expand its store network in the Greater Bay Area, preparing for 10 new stores, hoping to regain growth momentum as the market recovers
CAFE DE CORAL H announced that as of the end of September, its half-year profit fell 28% year-on-year to HKD 140 million, with an interim dividend maintained at HKD 0.15 per share.
During the period, revenue declined by over 1% to HKD 4.26 billion, and the gross profit margin dropped by 1.8 percentage points to 10.3%, due to economic weakness and increased overseas consumption habits leading to a decline in sales.
In the first half of the year, Hong Kong's classified performance fell 23% to HKD 250 million, while the mainland dropped nearly 5% to approximately HKD 94 million.
As of the end of September, the group had 381 stores in Hong Kong, a net increase of 1 store year-on-year; in the mainland, there were 176 stores, a net increase of 5 stores year-on-year. The group is committed to expanding its store network and market share in the Greater Bay Area and is currently preparing for 10 new stores.
The group stated that during the period, the overall economy was sluggish, with continued increases in outbound travel and overseas consumption, coupled with weak domestic consumption, further pressuring the Hong Kong market; on the mainland, intense price competition arose due to economic weakness, along with the high base effect from last year's post-pandemic recovery. The group will continue to consolidate and expand its market share, hoping to regain growth momentum as the market warms up
