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Zhou Dafu Net Profit Fell 13% Last Year, The Overall Slowdown In Earnings Growth

2013/6/28 21:04:00 7

Zhou Dafu Jewelry Group recently released its annual earnings report for 2013. Data show that as of March 31, 2013, the group's turnover last year was HK $57 billion 434 million, although it increased by 1.5% from HK $56 billion 571 million in the previous year, but still far away from the 61.4% increase in 2012. Its net profit last year was HK $5 billion 505 million, down 13.2% compared with the same period last year, compared with a significant increase of 79.2% last year. 
Zhou Dafu's main source of revenue, the mainland's mainland market, also declined. Data show that Zhou Dafu's business income in mainland China last year was HK $30 billion 300 million, a decrease of 5.3% from HK $32 billion 16 million last year, and its proportion of total revenue declined from 56.6% last year to 52.8%, or 3.8 percentage points lower than that of last year's P. 
At the end of March 2013, Zhou Dafu had a total of 1836 retail outlets, although the net sales increased by 209 compared with the previous fiscal year. However, the overall same store sales decreased by 3.3% over the 2012 fiscal year, while the data grew by 40.3% in the fiscal year of last year, compared with 2012 in the fiscal year. Among them, the same store sales in mainland China, Hong Kong, Macao and Taiwan fell by 3% and 3.7% respectively, while the figures increased 32% and 48.4% respectively over the previous fiscal year. Zhou Dafu pointed out that the decrease in sales in the same store this year was due to a slowdown in sales of precious jewellery and a decline in the retail environment in the mainland of China. 
 store distribution, Zhou Dafu currently has 1836 retail outlets, 1640 are in mainland China, accounting for nearly 95%. Last year, 192 of the 209 new stores opened in the mainland of China, and 112 of them opened in the three and below cities of mainland China. 
 specific products, Zhou Dafu group's main products, jewelry, jewelry and gold products last year accounted for 22.9% and 57.4% of the total turnover respectively. Among them, sales of jewellery jewellery fell 14.4% to HK $13 billion 165 million compared with the same period last year, while gold products sales benefited from the gold price, up 10.8% from HK $32 billion 955 million to HK $32 billion 955 million over the previous year. 
Less than p gross profit, Zhou Dafu gross profit last year was HK $16 billion 283 million, basically unchanged from last year. Last year, gross profit margin was 28.4%, down 0.7 percentage points from 29.1% last year. 
 in addition, Zhou Dafu's cost expenditure rose sharply in the current fiscal year. Data show that its sales and distribution costs and administrative expenses increased to HK $9 billion 181 million, up 1 billion 146 million Hong Kong dollars from HK $8 billion 35 million in the previous year, and the proportion of revenue increased from 14.2% last year to 16%. Zhou Dafu's advertising and publicity expenses are also growing. Data show that the amount has increased from HK $448 million last year to HK $797 million. In terms of rent, Zhou Dafu said it was affected by new stores. Last year's rent increased to HK $1 billion 15 million compared with HK $672 million last year.