OUTSTANDING sales of Goldlion brand-name products in China have enabled the Hong Kong clothier to report a 55.4 per cent increase in net profits, to $128.02 million from $83.8 million, for the six months to September 30.
Turnover rose 40.5 per cent to $576.2 million, from $410.2 million for the year-previous period, the company said.
It said 85 per cent of its turnover, or roughly $489 million, was from sales of the group's own brand products.
The remaining 15 per cent was generated from the sale of general retailing merchandise in its joint-venture department stores on the mainland.
Company secretary Louis Lau Chung-man said group sales in China 'registered outstanding increases, partly as a result of the group's increased investment in department store operations' there.
He said China now accounted for as much as 78 per cent of the company's turnover at a time when the Hong Kong sales situation was 'less than satisfactory'.
Mr Lau said Goldlion products were sold in more than 720 outlets in China, including more than 300 major retailers and about 70 speciality stores.