Half Year 2025 Luk Fook Holdings (International) Ltd Earnings Call Transcript
Key Points
- Luk Fook Holdings (International) Ltd reported an increase in overall gross margin by 4.9 percentage points to 32.7%, benefiting from rising gold prices.
- The group's NAV per share increased by 2.4% compared to March 31, 2024, and by 5.8% compared to the same period last year.
- The company plans to expand its footprint in the overseas market with a net addition of approximately 15 shops in the current financial year.
- Luk Fook Holdings (International) Ltd has successfully integrated strategies to attract target customers and foster high customer loyalty, with membership base increasing nearly 30% to over eight million.
- The company is optimistic about the immense growth potential in the overseas market and plans to allocate more resources for expansion.
- Revenue decreased by 27.2% compared to the same period last year, primarily due to a decline in sales of gold products caused by record-high gold prices.
- Profit attributable to equity holders decreased by 53.9%, and basic earnings per share decreased by 54%.
- There was a net decrease of 175 shops globally, including a significant reduction in local shops.
- Total operating expenses increased by 8.4%, leading to a higher TOE-to-revenue ratio of 21.3%.
- The surge in gold prices resulted in a gold hedging loss of HKD230 million, compared to a gain of HKD55 million last year.
Ladies and gentlemen, welcome to the Luk Fook fiscal year 2024, '25 interim results presentation. (Operator Instructions) Please note, this call is being recorded. I would now like to hand the conference over to Joanne. Please go ahead.
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Good morning, everyone. I'm Joanne Ho from Luk Fook Investor Relations team. Thank you, all, for joining us today for our financial year 2025 income results. As you know, we usually hold our call in the evening, so we really appreciate your visibility with this new schedule.
It is a pleasure to have the opportunity to speak with you again. I'm joined today by Dr. Kathy Chan, our Executive Director and CFO, who will take us through our income performance. After her presentation, I will open the floor for a Q&A session.
Please note that the conference will be conducted in English, and the presentation materials are now available on our website. Now I would like to pass the time to Dr.
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