Luxury retailer Dickson Concepts (International) has seen sales for the three months to October beat last year's figures, underscoring the pace of economic recovery.
Dickson Concepts distributes luxury brands, including Brooks Brothers, Polo Ralph Lauren and Bvlgari, through 381 shops and counters in Asia and 116 stores on the mainland.
'The group's sales increase can serve as a meaningful market indicator of Asia's retail industry as our business covers Hong Kong, Taiwan, Singapore and the mainland,'' said chairman Dickson Poon.
Although he refused to disclose the size of the sales growth, he said he expected the group would achieve significantly improved results in the second half of the year.
The company said net profit for the six months to September fell 85.5 per cent to $7.71 million. The group reported an interim profit of $53.19 million a year ago, due mainly to a $44 million portal development cost write back.
With a strong cash reserve of $400 million, the group has declared an interim dividend of three cents. The amount represents a dividend payout ratio of 99.8 per cent.