Profit Fell 1.8% In The First Half Of The Year, Net Profit Rose 44.8%

In August 13th, riff International (01212) issued a notice announcing that in the 6 months ended June 30, 2019, the group achieved a turnover of HK $2 billion 103 million, down 1.8% compared to the same period last year, and the company's owner should earn HK $1 billion 286 million, up 44.8% over the same period last year.

According to the announcement, the sales volume of group department stores decreased by 1.8% compared with the same period last year, while the total sales revenue generated by direct, post sales orders and special licensing sales decreased by 2.4%, but the performance was still slightly better than the overall retail market, which recorded a 2.6% decline.

The decline in group turnover was mainly due to a decrease of about 2.8% in direct sales while a decrease of about 2.4% from the sales of franchised counters.

Tongluowan's sales revenue during the period of sogong fell by 4.8% compared with the same period last year, and the total passenger traffic volume decreased by 3.7%. The average volume of transactions remained stable at 910 yuan. The SOGO Rewards program continues to grow. Sales from SOGO Rewards members account for 55% of the total sales revenue.

Sales in Tsim Sha Tsui during the period of sogu increased by 9.5% compared with the same period last year. Cosmetics and skincare products were the main driving force for its growth, and sales increased by 14.3% during the review period.