Dickson Concepts (00113.HK) released its full-year performance as of the end of March this year, with revenue of HKD 2.4 billion, up 12.6% year-on-year. Net profit was HKD 351 million, up 38.8% year-on-year; earnings per share were 89 cents. The final dividend was 35 cents, up from 27 cents in the same period last year.

The Group expects the Hong Kong retail market to be extremely difficult this fiscal year, due to the weak currencies of other markets such as Japan and Europe and the refund given to tourists, which makes the retail prices of its luxury goods significantly cheaper than in Hong Kong. Therefore, local consumers actively travel abroad and consume. In addition, Shenzhen has become a popular tourist shopping destination for Hong Kong consumers, and Chinese tourists have shortened their trips to Hong Kong and are no longer dominated by shopping as before the epidemic.

The Group will continue to manage its retail network in the most conservative manner, carefully manage its investment portfolio, and strictly control the cost of each operating aspect. The Group has net cash of HKD 2.67 billion and believes that it can use its strong financial position to cope with the difficult retail environment and potential economic downturn risks, and seize new investment opportunities to diversify and expand its profit base.