Man Wah Holdings reports steady profit growth despite revenue dip

For the six months ended September 30, 2025, Man Wah Holdings recorded revenue of approximately HK$8.04bn, a 3.1% year-on-year decrease. However, stringent cost control and operational efficiency boosted the gross profit margin by 0.9 percentage points to 40.4%, and the net profit margin increased by 0.5 percentage points to 14.2%. Profit attributable to equity owners rose modestly by 0.6% year-on-year to approximately HK$1.15bn.

The company's total staff cost for the period was approximately HK$1.43bn. Cash and bank balances (excluding restricted balances) stood at approximately HK$3.95bn, with a current ratio of approximately 1.5 and a gearing ratio of approximately 29.3%. The board resolved to declare an interim dividend of HK$0.15 per share.

The group continues to advance its "smart furniture" strategy, focusing on product innovation, brand building, and optimizing store layouts. Overseas markets, particularly North America, showed resilience, with revenue increasing by 0.3% to approximately HK$2.16bn.