According to news from November 29th,$L'OCCITANE (00973.HK)$There was a decline of more than 15% in early trading. As of press release, it was down 8.98% to HK$17.84, with a turnover of HK$506.951 million.
According to the news, after the market closed on November 28, Beijing time, L'Occitane announced interim results for the six months ending September 30, 2023. The main results are as follows:
Net sales were about 1,072 million euros, up 19% year on year. The announcement stated that net sales growth was mainly due to strong growth in Sol de Janeiro and impressive growth in L'Occitane en Provence, particularly in China;
Gross margin remained at a high level of 78.3%, although it fell 1.9 percentage points compared to the same period last year, mainly due to the high sales contribution of brands such as Sol de Janeiro and Elemis, which account for relatively high wholesale sales;
Net profit for the first half of fiscal year 2024 decreased by 24.3 million euros, or 38.0%, to 39.6 million euros compared to the same period last year. Basic and diluted earnings per share were €0.023, both down 45.0% from earnings per share for the same period last year;
Operating profit was 76.8 million euros, a decrease of 11.8% year-on-year, mainly due to the company's significant increase in marketing investment in strategic markets and channels for major brands. According to the Group, it is cautiously optimistic about the prospects for entering the holiday season and gift-giving season in the second half of the year.
