Citychamp Watch & Jewellery Group reported its first-half revenue increased to HK$1.7 billion from HK$1.3 billion a year earlier while net profit fell 37 per cent to HK$273.6 million.
But the company said net profit actually increased HK$2.6 million if gains on the disposal of shares in Citychamp Dartong were set aside.
The watch seller said it was prepared to allocate a “significant amount of various resources” to transform the brands it owned into “long-term revenue drivers”.
Rossini and EBOHR remained the market leaders in the short and medium term, Citychamp said, adding that it expected the performance of its Eterna and Corum brands to improve as brand recognition increased following sustained investments in product development, marketing and advertising.
