Joyce Boutique Holdings has returned to the black, with net profit of $30.3 million on turnover of $543.9 million for the year to March. This compared with a loss of $35 million a year earlier. No final dividend was recommended. Earnings per share were 1.9 cents. The group has net cash of $261.5 million, an increase of more than 20 per cent on the previous year. Joyce Boutique said it had acquired rights to represent additional major brands, including Etro, Donna Karan and Michael Kors, beginning with the autumn/winter season. Managing director Adrienne Ma said the group had undertaken an aggressive retail build-out programme in first and second-tier mainland cities on behalf of its franchise principals. During the year, it opened a number of shops for Versace, Versus and Missoni Sport, she said.