Hong Kong's Daphne International's revenue jumps 53% in FY23

29 Mar '24

1 min read

Pic: Daphne

Insights

Hong Kong's Daphne International Holdings reported a 53 per cent revenue rise to RMB 262.6 million (approximately $36.3 million) in FY23.
The company's operating profit and shareholder profit soared by 59 per cent and 68 per cent, respectively.
Operating margin grew to 25.8 per cent in FY23, with earnings per share up 62 per cent to RMB 0.034.

Hong Kong’s Daphne International Holdings, a company engaged in the manufacture, distribution and retailing of footwear products and accessories, has reported a revenue surge of 53 per cent to RMB 262.6 million (approximately $36.3 million) for fiscal 2023 (FY23), ended December 31, 2023, compared to RMB 172.1 million in the restated FY22 figures.

The robust revenue growth was complemented by a significant 26 per cent increase in other income, which rose to RMB 59.6 million. This contributed to an operating profit of RMB 67.6 million, marking a substantial 59 per cent improvement over the previous year. The profit attributable to shareholders witnessed an impressive 68 per cent jump, reaching RMB 62.4 million.

The company's profitability ratios also reflected the positive trajectory, with the operating margin expanding by 1.2 percentage points to 25.8 per cent. The net margin saw an even greater improvement, up 2.2 percentage points to 23.8 per cent, the company said in a press release.

Basic earnings per share followed suit, increasing by 62 per cent to RMB 0.034, from RMB 0.021 in 2022.

Fibre2Fashion News Desk (DP)