ASIA COMM HOLD (00104.HK) announced on June 24th that the annual revenue for the year ending March 31, 2024 was HKD 705 million, which was similar to the HKD 711 million in the previous year. The Group achieved a net profit of HKD 26 million (compared to HKD 44 million in the previous year), a 41% decrease year-on-year; basic earnings per share were 3.51 Hong Kong cents. It is recommended to distribute a final dividend of 26 Hong Kong cents per share at the end of the reporting period.
The Group currently operates 5 stores in China. The Group will continue to focus on core stores and streamline operational costs to further improve the cost-effectiveness of each store. Despite the stable sales of the company in China during the year, the slowdown of the Chinese economy remains a challenge for the future of the luxury goods retail business.
