Gains from controversial asset disposals and the improvement in Asian economies helped upmarket retailer Dickson Concepts (International) return to the black in the six months to September.
The group reported a $326.36 million attributable profit, having made a $290.77 million loss in the same period last year and a $327.62 million loss for the full year to March.
After unveiling the results, Dickson - which has a $550 million cash pile - said it was contemplating a string of investments in areas including electronic commerce, brand-name acquisitions and the opening of new stores.
The turnaround was driven by a $320.01 million gain from the disposal of lucrative non-Asian assets to chairman Dickson Poon in a deal that turned the company into a pure Asian retail play.
On an operating level, the group recorded a $30.67 million profit against a $76.25 million loss previously.
'This is an extremely positive sign,' Mr Poon said.
