Oriental Watch Cuts Interim, Special Dividend as Fiscal H1 Profit Declines 14%

MT Newswires Live11-15 15:31

Oriental Watch (HKG:0398) recorded a profit attributable to owners of HK$119.4 million for the six months ended Sept. 30, 13.8% lower than HK$138.0 million in the year-ago period.

Earnings per share fell to HK$0.2450 from HK$0.2832 a year earlier, according to a Thursday disclosure with the Hong Kong Exchange.

The watch retailer's revenue stood at HK$1.80 billion, 2.6% lower than HK$1.85 billion a year ago.

The board declared an interim dividend of HK$0.061 per share, down from HK$0.070 a year prior.

The board also recommended a special dividend of HK$0.185 per share, compared with HK$0.215 per share from last year.

The dividends will be paid to the shareholders on record as of Jan. 8, 2025.

Shares of the company were up over 5% in recent trade.

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