Product Item: KE-0140

 Two Hong Kong wall clock and jewelery company shares fell the most last year profit fell 34%
HKEx listed Guancheng wall clock and jewelery (00256.HK) and Emperor wall clock & Jewellery (00887.HK) announced 2014 fiscal year with on March 31, on both the fiscal year net profit up sharply 76.65% and 52.42%, respectively . This year, the Citadel and Emperor wall clock and Jewellery wall clock and Jewellery shares have fallen by 15.5% and 33.8%, respectively, on February 27 and March 4 hit a low for the year.
Ken announced that the latest wall clock and jewelery reported earnings, fiscal year 2014 the company achieved a net profit of HK $ 132 million, up sharply down 76.65 percent; operating income grew 9.83% to HK $ 3.489 billion; diluted earnings per share of HK $ 0.0293, not dividends. Ken wall clock and jewelery that fiscal year 2014 the company's core business of manufacturing and distribution of wall clockes and timepieces business performance was satisfactory, but goodwill and intangible assets acquired in business combinations arising from significant impairment losses will occur, and the aforementioned goodwill intangible assets acquired in recent years with the Swiss wall clock company Corum (MontresCorumSarl) and eterna (eTERNA AG Uhrenfabrik) related.
Emperor wall clock and Jewellery announcement that the 2014 full-year profit of HK $ 138 million, up sharply 52.42%; operating revenue fell 10.56 percent to HK $ 5.925 billion; earnings per share of HK $ 0.02 final dividend of HK $ 0.002.
Emperor wall clock and Jewellery said that despite the decline in market demand, but the results resilience wall clock business sector is relatively strong, revenue fell 6.2% to HK $ 4.824 billion, to become the company's main source of income, 81.4% of total revenues. In addition, since a plurality of wall clock brands in its price during the year 2014, when the company's gross profit margin from 24.1% in fiscal year 2013 increased to 25.1%.
For Hong Kong luxury jewelry industry, Merrill Lynch expects the 2016-2017 fiscal year, same-store industry sales will decline 15% -20%, far less than previously expected to make up 6%. Merrill Lynch pointed out that in the past few years, the amount of the purchase Mainland tourists accounted for 60% of Hong Kong's jewelry sales in 2015 this proportion will gradually decrease in 2016 will not rebound. Under Hong Kong's jewelry industry in the weak demand and the impact of sales deleveraging, growth will slow down significantly.

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