Luk Fook Holdings (International) Ltd (FRA:LUY1)
€ 1.73 0.01 (0.58%) Market Cap: 1.04 Bil Enterprise Value: 1.04 Bil PE Ratio: 6.70 PB Ratio: 0.64 GF Score: 64/100
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Full Year 2020 Luk Fook Holdings International Ltd Earnings Call Transcript

Jun 26, 2020 / 09:30AM GMT
Release Date Price: €1.71 (+1.18%)
So Kuen Chan;International;Limited;CFO
Luk Fook Holdings;Company Secretary & Executive Director

()- -

(technical difficulty)

On the other hand, total operating expenses decreased by 15%. Its ratio to revenue therefore increased by 3.7 percentage points to net -- up to 18.9%. And then in addition to the decline in diamond sales leading to a bigger reduction in diamond purchases, which resulted to a significant decrease of VAT refund in relation to diamond import in Mainland of about HKD 182 million, together with gold hedging turn from a profit of HKD 8 million same period last year to loss of HKD 131 million this year contributed by the high gold price. Operating profits therefore substantially decreased by 37.6% to HKD 1.2 billion. Our operating margin maintained at a double-digit level of 10.3% while net margin decreased by 1.8 percentage points to 7.7%.

Now let's turn to Slide 7. Targeting at reducing our inventory level to below HKD 8 billion, we have successfully decreased our inventory balance by 19.2% to HKD 7.5 billion

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