3 April 2018
The Weekly

Department store operator Wing On Company International reported today full-year net profit surged by 169.3% to HK$2.65bn ($228mn), from HK$986.8mn ($126mn), the year before. Net profit increased mainly as a result of the significant increase in net valuation gain on investment properties in 2017. Underlying profit increased by 27.7% to HK$581.5mn ($74mn), from HK$455.4mn ($58mn) in 2016. Revenue for the year ended December 31, 2017, fell by 4.3% to HK$1.64bn from HK$1.72bn in 2016. Department store revenue dropped by 5.5% to HK$1.21bn from HK$1.28bn in 2016. Department store operating profits fell by 23.2% to HK$116.4mn ($15mn) from HK$151.5mn ($19.3mn) in 2016, due mainly to the decrease in revenue and thus gross Profit.

You are currently offline. Some pages or content may fail to load.

We have cached all the pages you navigated to, including the Homepage, Contact page and Events. You can visit those while offline.