Well-Positioned to Capture Opportunities with Strong Net Cash Position
Highlights: - Well ahead of schedule in meeting operating margin and profit after tax CAGR target levels set out under our Three-Year Plan (2023 – 2025)
- Average selling price ("ASP) increased by 4.2%
- Further enhancement of customer portfolio, led by Luxury and high-end Fashion categories
- Rationalisation of the Group's retail operation in Mainland China and exited all other physical points-of-sales worldwide
- Gross profit margin expanded by 3.0 percentage points to 24.6%
- Operating profit US$159.4m saw an increase of 18.2% year-on-year
- Operating profit margin increased to 10.7% from 8.3% last year
- Adjusted net profit increased by 23.5% to US$147.6 million
- Strong net cash position of US$287.4 million (2022: US$206.1 million).
