Financial Highlights

(30 November 2010) ── Luk Fook Holdings (International) Limited (“Luk Fook”/ “The Group”) (SEHK Code: 00590.HK) today announces its interim results for the six months ended 30th September 2010. During the period under review, the Group’s revenue increased by 56.3% to HK$3,264,477,000 (2009: HK$2,087,637,000). Profit attributable to shareholders amounted to HK$319,770,000, representing an increase of 69.7% as compared to HK$188,380,000 for the corresponding period last year. Basic earnings per share were 64.93 HK cents (2009: 38.25 HK cents). The Board recommends an interim dividend of 26.0 HK cents per share (2009: 15.0 HK cents) for the period ended 30th September 2010.

Mr. Wong Wai Sheung, Chief Executive of Luk Fook said, “The trend of appreciation of Reminbi boosted Mainland consumers’ purchasing appetite and the Group continued to benefit from the growing number of PRC tourists who spent a great deal of money on purchasing gold and jewellery items in Hong Kong. Our retail business, which contributed largely from the PRC tourists, registering an increase of 58.6% from the same period last year. Favored by the strong economy of the PRC and the growing purchasing power of its people, the Group foresees great potential in the PRC market and is envisioned to develop the PRC market as the major market contributor in a long run.”

As at 30th September 2010, the Group operated a total of 646 retail stores (2009: 508) with 607 (2009: 469) in the PRC, 31 (2009: 31) in Hong Kong, 5 (2009: 4) in Macau, 1 (2009: 2) in the United States and 2 (2009:: baclofen pump hereditary baclofen compounding baclofen oral baclofen side effects alcohol baclofen tab list of doctors 2) in Canada. The Group always strives to establish its presence in overseas markets and is going to open its first self-operated shop in Singapore in December 2010. For the period ended 30th September 2010, the Group’s retail business contributed HK$2,513,876,000 (2009: HK$1,584,308,000) to total revenue, registering an increase of 58.6% from the same period last year.

satisfactory sales performance.

Regarding the business in the PRC, the Group established 89 new licensee shops during the period, accumulating its total number to 572 (2009:: 32). On account of the Group’s enlarging retail network and the strong growth of economy in the PRC, revenue from the PRC market, which accounted for 17.9% of the Group’s total revenue, increased 86.8% to HK$584,896,000. Operating profit from China operations accounted for 37.5% of the Group’s total operating profit , increased 76.3% to HK$141,172,000.

$315,439,000, representing an increase of 57.0% from the same period last year.

Mr. Wong Wai Sheung, Chief Executive of Luk Fook said, “The revival of the global economy coupled with PRC customers’ strong demand for luxurious items favours the Group’s business. We believe the jewellery retail market in Hong Kong and the PRC will continue to robust and thus hold an optimistic view on it. Looking ahead, the Group is determined to further increase its market share in the PRC and will rapidly expand its sales network in the region. In addition, eyeing the encouraging business performance of the Group’s OMEGA Watch counter, the Group is going to tap the watch market through cooperation with more prestigious watch brands, so as to seize the business opportunity derived from the blooming tourism.”

~end~

Reference:

http://www.hkexnews.hk/listedco/listconews/sehk/20101129/LTN20101129662.pdf