New World Department Store China narrowed its annual loss to HK$229.4 million from a HK$483.7 million loss from the year before, the company announced Wednesday.
Loss per share for the year was HK$0.14.
NWDS operates department stores and shopping mall businesses in the Chinese mainland. As at the end of the reporting year, it operated 29 department stores and shopping malls, in the north and south covering 17 key locations
NWDS operates department stores and shopping mall businesses in the Chinese mainland. As at the end of the reporting year, it operated 29 department stores and shopping malls, in the north and south covering 17 key locations.
Group revenue was HK$2.24 billion for the year ended June 30, 2021, compared with HK$2.23 billion year before.
Revenue was mainly generated from commission income from concessionaire sales which
accounted for 39.8 percent, NWDS reported. This was followed by rental income which accounted for 31.3 percent, sales of goods for direct sales which took up 28.2 percent, and interest income from finance leases, which made up 0.7 percent.
NWDS also operates four ‘‘New World Supermarkets’’ and two boutique ‘‘N+ Convenience Stores,’’ in four cities, namely Beijing, Wuhan, Yantai and Lanzhou, while the convenience stores were concentrated in the Beijing area.