Emperor Watch & Jewelery (0887) saw its net profit increase by 34.7 percent year-on-year to HK$299.2 million in 2023 as tourists returned and consumer sentiment improved.
Revenue rose 31 percent to HK$4.82 billion, with HK$2.51 billion and HK$1.37 billion from Hong Kong and mainland markets accounting for 52 percent and 28.5 percent of the total respectively.
Sales for the watch and jewelry division amounted to HK$3.48 billion and HK$1.34 billion respectively.
Gross profit rose by 23.2 percent from HK$1.18 billion in 2022 to HK$1.45 billion.
The company declared a final dividend of 56 HK cents per share last year, compared with 62 HK cents in 2022.
The luxury retailer said it expects Chinese consumers to spend locally amid continuous fluctuations of the yuan, and this will benefit its business in Hong Kong, Macau and the mainland.
It has 93 stores across Hong Kong, Macau, the mainland, Singapore and Malaysia.