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Oriental Watch (398) investor relations material
Oriental Watch H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the six months ended 30 September 2025 declined 10.1% year-over-year to HK$1,618 million, reflecting cautious consumer spending and a slowdown in the luxury market.
Gross profit dropped 12.9% year-over-year to HK$488 million, with gross margin slightly down to 30.2% from 31.1%.
Profit attributable to owners decreased 15.1% year-over-year to HK$101 million.
The Group operated 40 retail points in Greater China and maintained a strong focus on cost control and operational efficiency.
Financial highlights
Net cash from operating activities was HK$183 million, down from HK$240 million in the prior year period.
Cash and cash equivalents stood at HK$979 million as of 30 September 2025, up from HK$836 million at 31 March 2025.
No bank loans outstanding; gearing ratio remained at nil.
Inventory reduced by 4.3% year-over-year to HK$446 million.
Interim dividend of 5.3 HK cents per share and special dividend of 15.5 HK cents per share declared.
Outlook and guidance
The luxury goods market is expected to remain under pressure due to subdued discretionary spending and macroeconomic uncertainties.
The Group will focus on strengthening brand partnerships, expanding boutique networks, and maintaining stringent cost management to support sustainable profitability.
Emphasis on premium service and selective new store openings to enhance customer loyalty and market reach.
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