Despite COVID-19, sales up by 52.3% and 16.9% in China and South Korea E-commerce grew by 79% Gross margin expanded by 1.5 percentage points and EBITDA increased by 142% HONG KONG SAR - Media OutReach - 27 November 2020 – 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 2020 (the “period”). Since the outbreak of the global health crisis, the golf industry and retail sector were affected severely by social distancing measures and shelter-in-place orders, especially during the 3 months ended 30 June 2020. The industry quickly rebounded since May 2020, as a good majority of golf courses in Asia, the US and Europe gradually re-opened for play under social distancing rules. Benefiting from a speedier recovery from the pandemic and thanks to strong activation of products aimed at premium and super premium consumer segments, China and South Korea saw sales grew robustly by 52.3% and 16.9% respectively during the 6 months period ending September 30, 2020, on a constant currency basis. Sales from e-commerce advanced significantly due to change… Read full this story
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