Slow sales hit Oriental
SLOW sales at Oriental Watch Holdings are blamed for a 19 per cent fall in profit to $14.04 million for the six months to September 30. The previous figure was $17.32 million.
Turnover was $490.4 million compared with $505.3 million previously. Fully diluted earnings per share were 6.03 cents and an interim dividend of one cent was declared.
The company said slow retail sales caused by a weak stock and property market were responsible for the fall in turnover.