International Housewares Retail Company (1373) H2 2026 earnings summary

Executive summary

• Revenue declined to HK$2,311.7 million for the year ended 30 April 2026, down 8.9% year-over-year, reflecting ongoing store network optimization and the phasing out of underperforming stores.

• Profit attributable to owners was HK$45.2 million, a 5.3% decrease compared to the previous year.

• The Group maintained a strong cash position, with cash and cash equivalents rising 18.7% to HK$337.6 million.

• A total dividend of HK5.3 cents per share was declared, slightly lower than the prior year.

Financial highlights

• Gross profit margin was 45.75%, slightly down from 46.00% in the prior year.

• Operating profit was HK$66.5 million, down from HK$73.9 million year-over-year.

• Basic and diluted EPS were HK6.3 cents, compared to HK6.6 cents last year.

• Total assets stood at HK$1,350.6 million, with total equity at HK$869.8 million.

• Employee benefit expenses decreased by 11.4% to HK$360.0 million.

Outlook and guidance

• Management remains cautiously optimistic, focusing on operational efficiency, disciplined cost control, and strategic repositioning as a “One-stop daily life platform.”

• Growth opportunities are anticipated from Hong Kong’s Northern Metropolis development, population inflows, and Greater Bay Area integration.

• The Group is exploring franchise partnerships in Singapore to drive asset-light expansion.