During the six months ended 30 September 2025, Luk Fook Holdings (International) Limited reported revenue of HK$6.84 billion, up 25.6% from the same period last year. Gross profit rose 33.2% year-on-year to HK$2.37 billion, resulting in a record-high overall gross margin of 34.7%, a 2.0 percentage-point improvement.

Operating profit soared by 45.4% to HK$0.78 billion, boosting the operating margin by 1.6 percentage points to 11.4%. Profit for the period increased by 44.1% to HK$0.60 billion, and basic earnings per share grew 41.9% to HK$1.05. The board declared an interim dividend of HK$0.55 per share, with a payout ratio of 52%.

In the Hong Kong, Macao, and overseas markets, revenue rose 9.9% year-on-year to HK$3.86 billion. Retailing remained strong, achieving HK$3.74 billion in sales. Meanwhile, Mainland business expanded notably, lifting its total revenue by 54.2% to HK$2.98 billion. The wholesaling segment, benefiting from a broader product portfolio and effective sales, turned around to record a segment profit of HK$108 million from a loss previously.

Overall same store sales saw a 7.7% increase during the period. Gold and platinum products delivered a 2.7% same store sales growth, while fixed price jewellery increased by 22.2%. Management highlighted rising gold prices and an enhanced product mix as factors contributing to improvements in gross margin.

During the review period, there was a net decrease of 174 shops worldwide, bringing the total network to 3,113. The company continued a steady pace of overseas expansion, entering Vietnam for the first time and adding eight new overseas shops. Management noted that after 30 September, same store sales in both the Hong Kong, Macao, and overseas market and the Mainland market recorded double-digit growth up to 21 November 2025, suggesting continued momentum despite higher gold prices.

Liquidity-wise, cash and bank balances stood at HK$1.12 billion on 30 September 2025, while net debt reached HK$1.08 billion. Inventory rose by 14.2% to HK$12.27 billion. Capital expenditures for the period were HK$49 million. The board remains cautiously optimistic, citing macro uncertainties but pointing to strong Mainland demand and steady overseas expansion. The company intends to deepen product-line differentiation, expand into new overseas markets, and further enhance operational efficiency to drive its long-term growth.