The operation of OK Convenience Store, St. Anna Bakery in Hong Kong, and Lia Retail (0831), which owns the Zoff franchise of the eyewear brand, rose 5% year-on-year to 2.703 billion yuan and core profit of 104 million yuan
It rose 28.9%; net profit was 82.426 million yuan, up 22.4%, basic earnings per share was 10.8 HK cents, and interim dividend was 6 cents. The Group pointed out that under the factors of increased operating costs and uncertain macroeconomic environment, the company is cautious in the second half of the year.
Accelerate the expansion of the Zoff store network
The Group said that it will closely monitor the development of external factors, continue the “online to offline” strategy of OK Convenience Stores and Santa Ana Bakery, carefully monitor expenditures and accelerate the expansion of the Zoff store network.
Santa Ana Bakery’s same store sales growth
As of the end of June, the Group had 582 stores, of which 339 OK convenience stores were operated in Hong Kong. In the first half of the year, 2 stores were opened. Same-store sales rose 4.4%, and sales rose 6% to 2.185 billion yuan. The Santa Ana Bakery has 99 outlets in Hong Kong and Macau. During the period, turnover decreased by 2.7% to 508 million.
The Group pointed out that the local retail market was affected by macroeconomic uncertainties and sluggish consumer sentiment. St. Anna’s same-store sales still recorded a single-digit growth. The depreciation of the RMB helped to improve business costs and increase gross profit margin. The Guangzhou store network will continue to be integrated in the future.