Hour Glass posts half-year net profit after tax jumps 25% to $20.1m

Luxury watch retailer, The Hour Glass, says net profit after taxation jumped 25% to $20.1 million for the half year ended 30 September 2011 (1H FY2012) on the back of a 20% increase in revenue to $279.9 million and enhanced gross margins to 22.0% from the merchandise sales mix.

Hour Glass says the full six-month operations of the group’s new boutiques at Knightsbridge, Raffles Place and Marina Bay Sands in 1H FY2012 improved its performance, despite the weakening external macroeconomic environment.