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Oriental Watch (398) investor relations material
Oriental Watch H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 0.8% year-over-year to HK$3,423 million amid challenging luxury market conditions in Greater China, with profit attributable to owners down 10% to HK$180 million.
Gross profit margin slightly decreased to 31.1% from 31.5% year-over-year, reflecting pressure on discretionary luxury spending.
Adjusted profit, excluding a one-off HK$20 million loss on disposal of a joint venture, was HK$200 million, flat year-over-year.
Total dividends for the year amounted to 37.1 HK cents per share, representing a payout ratio of 100.4%.
Financial highlights
Turnover: HK$3,423 million, down 0.8% year-over-year.
Profit attributable to owners: HK$180 million, down 10% year-over-year.
Earnings per share: 36.95 HK cents (2025: 41.14 HK cents).
Gross profit: HK$1,064 million, gross margin 31.1%.
Cash and cash equivalents: HK$950 million as of 31 March 2026.
Outlook and guidance
Macroeconomic headwinds and subdued consumer confidence expected to persist, keeping luxury watch demand fragile.
Focus remains on expanding boutique network, deepening brand partnerships, and targeting affluent Chinese Mainland consumers.
Continued cost discipline and service quality enhancement to strengthen competitive positioning.
- Profit fell 20% on lower revenue and one-off charges; final and special dividends proposed.398
H2 2025 - Revenue and profit fell as luxury demand softened, but liquidity and dividends remain strong.398
H1 2026 - Revenue and profit fell, but strong cash and dividends signal resilience amid market headwinds.398
H1 2025 - Profit fell 15.3% as revenue dipped and luxury watch demand softened in Greater China.398
H2 2024
Next Oriental Watch earnings date
Next Oriental Watch earnings date
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