Beauty products retailer Bonjour has issued a profit warning – of the variety shareholders like to hear…
In a retail environment clouded in negativity, the listed company says it expects to make “a significant increase in net profit” in the six months to June 30.
The improvement is due to the sale of the beauty and health salons operation completed on January 1, with a gain of about HK$400 million.
That gain more than made up for an expected decline in operating profit from retail and wholesale business during the period, which is mainly attributable to the general decline of the Hong Kong retail market and recognition of an one-off share-based payment expenses arising from share options granted in January 2015, the company said in a statement to the stock exchange.
“This positive profit alert announcement is only based on the preliminary review of the group’s management accounts available for the time being, which are still subject to possible adjustments arising from further internal review by the board,” the company said.