HONMA Golf Announces FY2019/20 Interim Results

Declares Interim Dividend of JPY1.64 Per Share

Revenue from TOUR WORLD Family, Golf Ball and Apparel Grows by 73%, 54% and 53% Respectively

HONG KONG, Nov. 30, 2019 /PRNewswire/ -- HONMA Golf Limited ("HONMA" or the "Company"; together with its subsidiaries, the "Group"; HKEx stock code: 6858), one of the most prestigious and iconic brands in the golf industry, has announced its consolidated results for the six months ended 30 September 2019 (the "period").A  In the six months ended 30 September 2019, the Company steadfastly followed its growthA strategies and made major achievements which the Company believesA will continue to bring satisfactory business advancements and results.To support the Group's growth strategy, particularly those relating to America, the Group made the decision last year to optimize its club product portfolio to increase focus on the super-premium (BERES) and premium performance (TOUR WORLD) segments and to cease renewal of Be ZEAL family. As a result, the Company's revenue for the period decreased by 7.0% on a constant currency basis, directly due to the one-off impact from the repositioning of Be ZEAL. Revenue from TOUR WORLD family however improved by 73.1%, reconfirming the Group's revised product positioning and strategic intent towards the fast growing premium performance consumer segment.Revenue from golf balls increased robustly and recorded a year-on-year growth of 53.5%, A thanks to continued product line enrichment and deeper distribution network in Japan, Korea and China. Apparel sales grew by 53.1%, following the launch of collections designed and developed after the Group relaunched its apparel business. Sales contribution from non-club categories increased to 23.7% in the period, compared to 18.5% in the same period of the last financial year.In terms of geography, revenue from Korea grew by 51.4%, leading the way in terms of growth; followed by both Mainland China and Europe with 9.4% increases. Revenue from Japan and North America decreased by 21.7% and 22.7% respectively, due to the aforementioned adjustment in the Group's club product portfolio, and scheduled phase out of BERES 06, before the launch of its next generation in the second half of FY2020. During the period, while penetrating deeper in the Asia home markets, the Group expanded its presence in the mature golf markets in North America and Europe. The Group adopted a direct-to-consumer distribution model in the US and executed effective marketing strategies, including professional player endorsement which helped to boost HONMA's brand and product awareness in both markets. Points of sale ("POS") net increased by 25 and 95 in North America and Europe respectively in the six months ended 30 September 2019.
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