Watch-maker Peace Mark (Holdings) has seen attributable profit grow by 59.32 per cent to $34.16 million for the year to March 31, up from $21.44 million last year.
The company accredited the increase to an improved performance from its core watch business, which accounted for 85 per cent of its revenues during the period.
'Thanks to timely market intelligence from our representative offices in . . . key overseas markets . . . we have been able to deliver . . . new designs appealing to consumers in our major markets in America and Europe,' managing director Bernard Chau Kar-ho said.
He said a strategic partnership with Egana International (Holdings), which has an extensive European marketing network and owns about 2 per cent of Peace Mark's shares, contributed to the growth.
Turnover grew 51.92 per cent to $713.9 million for the period.
Earnings per share were 1.2 cents down from last year's 1.3 cents per share, due to a $186 million sale of about 1.91 billion new shares during the year.
