Veeko profit up 14.9 per cent in first six months

The profit of the clothing and cosmetics company Veeko increased 14.9 per cent year-on-year during the first six months of fiscal year 2015/2016 to HK$41.49 million (US$5.35 million) from HK$36.11 million, according to the interim report of the Group.
Regarding Macau and Hong Kong, the fashion retail business recorded a 6.2 per cent growth of the turnover year-on-year to HK$188.46 million from HK$177.51 million. However, gross profit margin for this area decreased by 1.7 percentage points to 71.8 per cent from 73.5 per cent.
For this period, the fashion business turnover amounted to HK$239.11 million, down 2 per cent year-on-year from HK$244.07 million.
The overall turnover of the Group in terms of retail business, including the Mainland, Singapore and Taiwan markets, amounted to HK$1,066.04 million, a 23.6 per cent year-on-year increase from HK$862.94 million.
The first six months of the fiscal year for Veeko recorded a 33.7 per cent year-on-year increase in terms of cosmetics turnover to HK$826.94 million from HK$618.29 million. Data for Macau was not disclosed but the company has four shops in the territory under the Colourmix brand.
During this period, the company launched another brand for their cosmetics shops named Morimor but at the end of September there was only one shop operating in Hong Kong. However, the company is committed to expanding this brand, and Macau may be included in this plan.