From the 1H FY2017 financial results below, we can see how much the current economic downturn has hurt the luxury business. On a positive note, the Group’s
balance sheet remains robust with consolidated net assets of $444.2 million with cash and cash equivalents of $85.3 million.
| Unaudited 1H FY2017 Results
For the Period ended: |
3 Sep ’16
$’000 |
30 Sep ’15
$’000 |
Change % |
| Revenue |
311,298 |
334,659 |
(7%) |
| Profit Before Taxation |
21,734 |
25,049 |
(13%) |
| Profit After Taxation |
16,885 |
20,722 |
(19%) |
| Earnings per Share (cents) |
2.34 |
2.85 |
(18%) |
The Hour Glass has businesses in Singapore, Hong Kong, Japan, Australia, Thailand and Malaysia.
Thailand Business
With the recent passing of Thailand’s King, Thailand enters a prolonged period of mourning, curtailing and luxury consumption. This will have an impact on the Group’s Thai associates. There are currently 9 boutiques in Thailand.
Current Dividend Yield
At current closing price of ......
