Oriental Watch expects turnaround
Oriental Watch is headed back into the black, releasing a positive profit alert to the Stock Exchange.
The group says it might achieve a profit for the year to March 31, mainly because of the Mainland China watch retail market improving, and the group’s success in changing its product mix for the market.
Also, rents had dropped for some of its Hong Kong shops.
Chairman Yeung Ming Biu says the information is based on the management’s preliminary
assessment after reviewing the group’s unaudited consolidated management accounts.
Oriental Watch Holdings works through two geographical segments – Hong Kong; and China, Macau and Taiwan. Its brands include Bulgari, Gucci, Calvin Klein, Roger Dubuis and Rolex.