Shares of TheHourGlass (AGS.SI), a luxury watch retailer, surged 3.40% in early trading on Monday, following the company's impressive financial results released last Friday. The stock's positive movement comes after the company reported a substantial increase in its half-year profits.

According to the latest financial report, TheHourGlass saw its net profit rise by 23.2% to S$75.7 million for the six months ended September 30, up from S$61.4 million in the same period last year. This significant profit growth has likely fueled investor confidence, driving the stock's upward trajectory in the pre-market session.

Despite the strong profit growth, the company noted that it faced higher operating expenses in the half-year period, primarily due to increased depreciation of property, plant and equipment. Nevertheless, the robust financial performance has allowed TheHourGlass to declare an interim dividend of S$0.02 per share, payable on December 8, further boosting shareholder value and potentially contributing to the stock's positive momentum.